Kalshi Attains $2B Valuation After Recent Funding Round in Crypto Prediction Market

Cryptocurrency prediction platform, Kalshi, successfully raised $185 million in a Series C round, led by Paradigm, reaching a $2 billion valuation. CEO Tarek Mansour stated that the funding will be used to expand the firm’s technology team for integration with more brokers. The company has already collaborated with Robinhood Markets and Webull, providing customers access to Kalshi’s contracts.

Interestingly, this comes as Kalshi's main competitor, Polymarket, is raising $200 million at a $1 billion valuation. The two prediction market platforms are taking different approaches to regulation and market access. Kalshi operates legally in the US under CFTC regulation, while Polymarket faces restrictions in several countries.