Kalshi’s valuation marked up to $11B after $1B funding round: TechCrunch

Kalshi, a CFTC-regulated exchange, has successfully raised $1 billion in funding, achieving a valuation of $11 billion. This positions Kalshi as a strong competitor to crypto-native Polymarket by offering event contracts with fiat access and legal clarity.

Polymarket indicates a 50% probability of Bitcoin reaching $85,000 in November as its price falls below $90,000 amid a broader market downturn.

Prediction markets indicate that Bitcoin could potentially return to six-figure prices, although expectations for a tempered close in 2025 remain. Traders on platforms like Polymarket and Kalshi are actively engaging in these predictions, reflecting a mix of optimism and caution in the cryptocurrency market.

Leaked screenshots indicate that Coinbase is developing a prediction markets platform utilizing Kalshi's regulated infrastructure. The images, shared by tech researcher Jane Manchun Wong, suggest that Coinbase is creating a dedicated website for this new service, which could enhance its offerings in the cryptocurrency sector.