"Kalshi, a prediction market that allows people to bet on future events, announced that it raised over $300 million at a $5 billion valuation. The company's value has increased 2.5 times since its last fundraise just three months ago, when it was valued at $2 billion. The fresh capital came from Kalshi's existing investor, Sequoia Capital with new investor Andreessen Horowitz co-leading the round."
"Kalshi also revealed that consumers in 140 countries can now make bets on its platform. The prediction market is seeing a dramatic surge in activity: Kalshi is set to reach $50 billion in annualized trading volume, up significantly from the approximately $300 million volume posted last year, the New York Times reported. Kalshi's fundraise announcement follows one made just days earlier by archrival Polymarket."
Kalshi raised over $300 million at a $5 billion valuation. The valuation rose 2.5 times since a $2 billion valuation three months earlier. Sequoia Capital and new investor Andreessen Horowitz led the round, with Paradigm Ventures, Capital G, and Coinbase Ventures participating. Consumers in 140 countries can now place bets on the platform. Kalshi is projected to reach $50 billion in annualized trading volume, up from roughly $300 million last year. Rival Polymarket secured investment support tied to Intercontinental Exchange at an $8 billion pre-money valuation and regained CFTC permission to re-enter the U.S. market. Kalshi secured U.S. access after successfully suing the CFTC.
Read at TechCrunch
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