Prediction market Kalshi raised $1B led by Paradigm at an $11B valuation, up from $5B after its $300M Series D in October, making its co-founders billionaires (Michael J. de la Merced/New York Times)
PositiveArtificial Intelligence
- Kalshi, a prediction market platform, has successfully raised $1 billion in funding led by Paradigm, achieving a valuation of $11 billion. This funding round follows a $300 million Series D round in October, during which the company's valuation was $5 billion. The latest investment marks Kalshi's third fundraising effort this year.
- This significant capital influx not only elevates Kalshi's valuation but also positions its co-founders as billionaires, reflecting strong investor confidence in the company's growth potential in the competitive prediction market industry.
- The rapid increase in Kalshi's valuation and trading volume, which has reportedly grown sixfold in six months, highlights the rising interest in prediction markets. Additionally, the anticipated launch of a prediction market by Coinbase powered by Kalshi indicates a broader trend of integrating prediction markets into mainstream financial services, suggesting a growing acceptance of this innovative betting model.
— via World Pulse Now AI Editorial System
