Kalshi raised $1 billion in funding at a valuation of $11 billion, led by Sequoia and CapitalG.

According to a report by TechCrunch citing sources familiar with the matter, prediction market platform Kalshi has completed a $1 billion funding round, valuing the company at $11 billion. The round was led by Sequoia and CapitalG. This funding round comes less than two months after its previous $300 million round, valuing the company at $5 billion. Kalshi allows users to place bets on various events and operates within legal boundaries, with annualized trading volume exceeding $50 billion. Its main competitor, Polymarket, is also reportedly planning to raise funds at a valuation of $12-15 billion.