Kalshi Raises $1B at $11B Valuation as Prediction Market Race Continues: TechCrunch

Core Insights - Kalshi has successfully closed a $1 billion funding round, achieving a valuation of $11 billion, with participation from notable investors such as Sequoia Capital and CapitalG [1] - The new valuation positions Kalshi closer to the $12 billion to $15 billion target sought by its competitor Polymarket, highlighting strong investor interest in the prediction market sector [2] - Kalshi operates as a regulated exchange under the Commodity Futures Trading Commission (CFTC), offering event contracts on various topics, thus providing a compliant alternative to decentralized platforms [3] Company Comparison - Kalshi is focused on regulatory compliance and aims for mainstream adoption, while Polymarket operates as a decentralized information market appealing to crypto-native users [5] - Polymarket allows users to wager cryptocurrency on yes-or-no outcomes related to political events and market data, contrasting with Kalshi's fiat-based offerings [4]