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3d ago

Kalshi Secures $185M at $2B Valuation as Polymarket Pursues $200M Raise

The funding will fuel Kalshi’s expansion of its technology team for broker integration following its landmark CFTC approval, underscoring shifting investor interest in event-driven markets.

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Overview

  • Kalshi’s Series C round raised $185 million at a $2 billion post-money valuation, led by crypto-focused VC Paradigm with participation from Sequoia, Multicoin, Neo and Bond Capital.
  • Polymarket is reportedly raising $200 million at a $1 billion valuation led by Founders Fund despite its 2022 US operational ban under a CFTC settlement.
  • Kalshi operates legally in the US after a successful court challenge that secured CFTC approval for election, economic and sports event contracts.
  • Senior advisor Donald Trump Jr. joined Kalshi in January, underscoring the platform’s appeal to political investors and conservative stakeholders.
  • Partnerships such as Polymarket’s integration with Elon Musk’s social network X illustrate growing collaborations between tech platforms and prediction markets.