Kalshi, a platform for betting on crypto assets, has successfully completed another funding round, raising $1 billion at a company valuation of $11 billion.
This is reported by Business • Media
Details of the Investment Round
The new funding round took place less than two months after the previous one, when Kalshi raised $300 million at a valuation of $5 billion. Among the prominent investors were Sequoia and CapitalG, who had previously invested in the company. They were joined by Andreessen Horowitz, Paradigm, Anthos Capital, and Neo, highlighting the strong interest of institutional investors in the cryptocurrency betting market.
“Kalshi platform closed an investment round of $1 billion at a valuation of $11 billion.”
Market Competition and Legal Challenges
Kalshi’s activation comes amid increasing competition in the cryptocurrency betting space. The company’s main competitor, the Polymarket platform, is also preparing to secure new funding, which could raise its market capitalization to $15 billion. This was mentioned in October reports, which noted that Polymarket’s valuation could reach $12–15 billion.
Additionally, Kalshi recently filed a lawsuit against the New York State Gaming Commission, challenging the ban on organizing bets on sporting events. This move underscores the company’s desire to expand the range of options available to users despite regulatory restrictions.