Kalshi receives VC investment, valuation may exceed $10 billion

ChainCatcher news, according to Bloomberg, the prediction market platform Kalshi is receiving financing offers from multiple VCs, with a proposed valuation of over $10 billion–$12 billion.

This news comes just weeks after Kalshi announced the completion of a $300 million financing round at a $5 billion valuation (co-led by A16z and Sequoia); in June, it raised $185 million at a $2 billion valuation (led by Paradigm). Kalshi has not responded to requests for comment. On the regulatory side, the CFTC has allowed it to launch more contracts, but there are still disputes regarding state-level gambling regulation. The company claims its annualized trading volume has reached $50 billion; competitor Polymarket received up to $2 billion in investment from ICE, with a valuation of about $8 billion.