Kalshi, a federally regulated prediction market platform, has raised $185 million in fresh funding, reaching a valuation of $2 billion.
Funding and Valuation
Kalshi has successfully completed a funding round of $185 million, increasing its valuation to $2 billion. This round was led by investment firm Paradigm, with backing from Sequoia Capital and Multicoin Capital.
Regulatory Approvals
The funding comes after Kalshi resolved its regulatory disputes with the Commodity Futures Trading Commission (CFTC). In May 2025, the CFTC dropped its appeal, clearing the way for expansions in the company's event-based derivatives offerings.
Future Plans and Competitive Landscape
Tarek Mansour, co-founder and CEO of Kalshi, stated that the new funds will be used to hire engineers and deepen integrations with brokerage platforms. Kalshi is already integrated with Webull and Robinhood. The company is currently positioned ahead of its main rival Polymarket, which is raising $200 million at a $1 billion valuation.
Kalshi reflects a growing investor interest in prediction markets, regarded as more accurate alternatives to polling through the collective expectations of traders.
