Prediction market platform Kalshi has raised a new $1 billion funding round from Sequoia Capital and CapitalG. According to TechCrunch, citing informed sources, the deal boosted the company’s valuation to $11 billion.
Among the other investors in the round are Andreessen Horowitz, Paradigm, Anthos Capital, and Neo.
Rapid Growth in Valuation and Trading Volume
In October, Kalshi had already raised $300 million, bringing its valuation to $5 billion. Against this backdrop, the platform’s annual trading volume exceeded $50 billion.
At the time, the Kalshi team noted that the funding “paves the way for Kalshi’s global expansion, opening the platform to traders outside the U.S. and creating a truly unified prediction market.”
During that period, it was also reported that Kalshi received investment offers from several major venture capital firms. Company representatives said the platform had become accessible to users in more than 140 countries.
Kalshi’s Development Plans
In the near future, the company plans to:
- launch new types of prediction markets;
- deepen integrations with institutional players;
- scale its technological infrastructure.
Head of Crypto at Kalshi, John Wan, previously stated that within a year the platform would become part of all major blockchain applications and crypto exchanges.
By the end of October, trading volume on Kalshi exceeded $4 billion, allowing the project to surpass its main competitor, Polymarket. Since the beginning of November, this figure has already reached $3.6 billion.
Prediction Markets from Coinbase
On November 20, independent researcher Jane Manchun Wong discovered interfaces for stock trading and prediction markets in the code of the Coinbase mobile app.
She explained in a comment to The Block that she found the relevant screens with “Stocks” and “Predictions” sections by reverse engineering the public version of the application.
One of the interfaces states that “Prediction Markets” are provided by Coinbase Financial Markets via KalshiEX LLC, which indicates a likely integration with Kalshi.
In response to journalists’ questions about the discovered prototypes, a Coinbase representative declined to give specific comments and instead recommended watching the company’s presentation scheduled for December 17.
