Kalshi raises $1 billion, valuation rises to $11 billion

Kalshi, an event prediction platform, has raised $1 billion in investment, raising its valuation to $11 billion. This comes less than two months after a previous $300 million raise. The main investors involved in the latest round are Sequoia and CapitalG. Founded by former hedge fund traders, Kalshi has already received a significant $50 billion in trade volume for the year, indicating the platform's growing popularity.

Source Techcrunch

Kalshi and its main competitor Polymarket became relevant last year when their platforms allowed betting on the outcome of the presidential election. These services became even more popular after they successfully predicted the outcome of the New York City mayoral election. However, Kalshi is facing legal challenges as regulators in several states claim that the company's activities constitute illegal gambling, which could affect its further development.

Kalshi's next steps could be influential in the forecasting market: if the company resolves legal issues and continues to expand, it could lead to even greater growth. Raising additional funds and advertising, such as the purchase of advertising space in the New York subway, contribute to further popularization and growth of bets on various upcoming events.