Prediction Market Kalshi Completes $185 Million Funding at $2 Billion Valuation, Paradigm Leads Investment

PANews reported on June 26 that according to Bloomberg, the prediction market Kalshi announced the completion of a $185 million financing, with a valuation of $2 billion, led by crypto venture capital Paradigm. The platform allows users to predict and bet on future events such as sports events and entertainment scores.

Kalshi was founded in 2018 by MIT graduates and participated in the Y Combinator incubation program in 2019. Its previous investors include Sequoia Capital and others. As a US federally regulated platform, its competitor Polymarket is prohibited from using it by US users because it is not registered with the CFTC. Recently, both platforms have announced cooperation with social media X, but Kalshi later withdrew the relevant statement.