Kalshi has completed a $1 billion Series E funding round, valuing the company at $11 billion. Paradigm led the investment.

Odaily Planet Daily reports that prediction market platform Kalshi has announced the completion of a $1 billion Series E funding round, bringing its post-money valuation to $11 billion. The round was led by Paradigm, with participation from Sequoia, a16z, Meritech Capital, IVP, ARK Invest, Anthos Capital, CapitalG, and Y Combinator.

Founded in 2018, Kalshi aims to establish prediction markets as a new financial asset class, allowing users to trade over 3,500 real-world event markets on its platform. The company claims its weekly trading volume has surpassed $1 billion, more than tenfold growth from 2024, with millions of active users. Kalshi is also considered a key data source for obtaining probabilities of future events by the media and Wall Street institutions.

The company will reportedly use the funding to expand its user base, partner with more brokerages, enhance content integration with media outlets, and expand its product line. Paradigm co-founder Matt Huang stated that the prediction market has enormous growth potential, "similar to the crypto industry a decade ago, on the eve of an explosion in cultural and economic influence." (Business Wire)