On November 20, 2025, Kalshi, the leading CFTC-regulated prediction market, raised $1 billion in fresh capital, pushing its valuation to $11 billion, per Coinlineup.com and Bloomberg. The round was co-led by Sequoia Capital and CapitalG (Alphabet’s growth fund), with participation from a16z, Paradigm, Anthos Capital, and Neo, per. This comes just weeks after a $300 million round at $5 billion pre-money, making Kalshi one of the fastest-growing fintechs ever.
Kalshi now processes over $50 billion in annualized trading volume across 140 countries, dominating event contracts on elections, economic data, weather, and culture, per. Unlike offshore competitors, Kalshi operates fully CFTC-licensed, offering fiat onboarding and legal clarity in the U.S. — a key advantage after its landmark 2024 court victory against the CFTC ban attempt, per. CEO Tarek Mansour stated: “This is the biggest endorsement yet that prediction markets are the future of information markets.”
Kalshi’s $11B valuation puts it neck-and-neck with rival Polymarket, which is reportedly raising at $12–15B, per The Block. Combined, the two platforms have facilitated $17.4 billion in volume since September 2025, with Kalshi holding 61.4% market share, per DeFiLlama. While Polymarket dominates crypto-native users, Kalshi leads in institutional and retail fiat inflows.
Bitcoin (BTC) at $113,234 and Ethereum (ETH) at $4,070 remain unaffected, per CoinMarketCap. The funding stays within the prediction market sector and does not directly influence broader crypto prices.
The capital will fuel:
Analysts project the sector could reach $100 billion annual volume by 2027.
