Kalshi raises $1B at $11B valuation after finest quantity month

Prediction market Kalshi has closed a $1 billion funding spherical at a valuation of $11 billion, after seeing its best-ever month-to-month quantity in November.

Confirming an earlier report by TechCrunch, Kalshi stated on Tuesday that its newest Collection E spherical was led by the crypto-focused enterprise agency Paradigm, with participation from different crypto-engaged VCs Sequoia, Andreessen Horowitz and Cathie Wooden’s ARK Make investments.

“Kalshi is changing debate, subjectivity, and discuss with markets, accuracy, and fact,” stated Kalshi CEO Tarek Mansour. “We’ve got created a brand new approach of consuming and interesting with data.”

Kalshi raised $1B at an $11B valuation.

A decade in the past, just a few thousand individuals knew what a prediction market was.

Eighteen months in the past, most prediction markets had been banned – till we overcame the federal government to set them free.

Over the previous seven years, our group has opened… pic.twitter.com/hGDkYxkSlh

— Tarek Mansour (@mansourtarek_) December 2, 2025

The most recent elevate greater than doubles Kalshi’s $5 billion valuation it gained in a $300 million funding spherical in October, as the usage of prediction markets, platforms permitting bets on every little thing from sports activities to geopolitical occasions, has soared.

Kalshi stated it would use the newest funding to combine extra brokerages, type partnerships with information organizations, and broaden its choices.

Prediction market volumes peak in November

Kalshi, alongside its closest rival, Polymarket, posted document month-to-month buying and selling volumes in November because the platforms benefited from wider adoption by way of integrations with different merchandise.

Buying and selling quantity on Kalshi reached $4.54 billion in November, surpassing its earlier document of $4.49 billion in October, in line with Token Terminal. 

Kalshi stated that its buying and selling volumes have grown 1,000% since 2024 and are surpassing $1 billion per week.

The platform has pulled forward of Polymarket, which recorded a document $3.76 billion in quantity for November, constructing on the $3 billion in quantity in October, its final best-performing month.

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The surging volumes to Kalshi and Polymarket come as each firms have inked offers to weave into different platforms after fastidiously pitching their providing as a approach of crowd-sourcing possibilities.