Kalshi, a platform enabling prediction markets, has secured a $185 million funding round led by Paradigm, valuing the company at $2 billion post-money. This round highlights the growing interest in prediction markets, with Paradigm's co-founder expressing confidence in Kalshi's team. Meanwhile, rival Polymarket faces regulatory troubles, which could affect its ongoing $200 million funding negotiations. Unlike Polymarket, which is banned in the U.S., Kalshi is regulated by the Commodity Futures Trading Commission, allowing U.S. residents to use its platform freely.
"Prediction markets remind me of crypto 15 years ago: a new asset class on a path to trillions," Matt Huang, co-founder and managing partner at Paradigm, told TechCrunch in an emailed statement. "There's no better team than Kalshi to scale prediction markets and reshape how people think about everything from elections and economic markets to weather and sports."
Doing the math, the investors backing Kalshi are paying more of a premium than the ones backing Polymarket, should the latter deal close as reported.
Kalshi, on the other hand, worked through a similar battle with the Commodity Futures Trading Commission and came to an agreement to be regulated by the CFTC. U.S. residents may freely use the site.
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