[Prediction Market Platform Kalshi Secures $1 Billion in Funding, Led by Sequoia and CapitalG] BlockBeats News, November 21: Sources revealed that prediction market platform Kalshi raised $1 billion in its latest funding round, bringing the company’s valuation to $11 billion. This comes less than two months after the seven-year-old startup announced its previous $300 million funding round at a $5 billion valuation. According to insiders, this round of funding was led by Kalshi’s existing shareholders Sequoia Capital and CapitalG. Other investors include a16z, Paradigm, Anthos Capital, and Neo. Bloomberg reported that Kalshi’s main competitor, Polymarket, was also in discussions for a new funding round last month, with a valuation range potentially reaching $12 billion to $15 billion. Just weeks ago, Polymarket completed a $1 billion funding round at a pre-money valuation of $8 billion. Since last year, both Kalshi and Polymarket have seen a significant surge in popularity, as they allow users to bet on outcomes of events such as presidential elections. Earlier this month, both platforms accurately predicted the results of the New York City mayoral election, further boosting the visibility of these gambling-style prediction websites. Kalshi allows users from over 140 countries to bet on various future events, ranging from Time magazine’s 2025 Person of the Year and Rotten Tomatoes scores for the movie *Wicked*, to longer-term events such as the ultimate winner of the next U.S. presidential election.