rewrite this title and make it good for SEO Prediction Markets Platform Kalshi Raises $1 Billion at $11 Billion Valuation – NFTgators

Quick take:

In October, Kalshi raised $300 million at $5 billion valuation in a round backed by Sequoia Capital, Andreessen Horowitz (A16z), Paradigm, CapitalG, and Coinbase Ventures.

The company also raised $185 million at $2 billion valuation in a round led by Paradigm in June.

The funding is yet to be publicly confirmed by the company, which would bring the total raised in a space of less than six months to nearly $1.5 billion.

Kalshi, the US-based prediction market platform regulated by the U.S. Commodities Futures Trading Commission (CFTC), has raised $1 billion, according to a report by TechCrunch. The fundraising reportedly values the company at a whopping $11 billion, more than double its previous valuation of $5 billion in October.

The round comes on the heels of Kalshi’s $300 million raise announced last month and backed by the likes of Sequoia Capital, Andreessen Horowitz (A16z), Paradigm, CapitalG, and Coinbase Ventures.

According to the report, returning investors Sequoia Capital and CapitalG are leading the latest round. The company also raised $185 million at $2 billion valuation in a round led by Paradigm in June. 

The $1 billion funding is yet to be publicly confirmed by the company, which would bring the total raised in a space of less than six months to $1.485 billion.

Kalshi’s prediction markets platform allows people from over 140 countries to bet on various future events, including sporting competitions, political events, film ratings on Rotten Tomatoes, and who is likely to win various awards like Time Magazine’s Person of the Year.

The company has experienced rapid growth this year, after reaching $50 billion in annualized transaction volume in October. That is more than a thousandfold growth from its $300 million volume posted last year.

The prediction markets space is becoming one of the hottest prospects in the crypto industry, as Kalshi and Polymarket, the latter last valued $8 billion, are going head-to-head. However, a new startup, Clearing Co., which raised $15 million seed round, is looking to take on the top two.

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