Kalshi hits $11B valuation after massive funding round
Prediction market platform Kalshi just raised $1 billion, doubling its valuation to a staggering $11 billion in only two months.
Backed by big names like Sequoia and CapitalG (who are staying quiet for now), Kalshi is quickly becoming a major player in the world of event betting.
Trading volume surges, but legal hurdles remain
Kalshi's trading volume has exploded to $50 billion a year—up from just $300 million last year—as users bet on everything from elections to global events.
Despite winning a key lawsuit against US regulators, the platform still faces pushback from some states over gambling concerns.
Founded by MIT grads Tarek Mansour and Luana Lopes Lara, Kalshi now operates in over 140 countries.
Meanwhile, rival Polymarket is plotting its own comeback in the US after sorting out regulatory issues.