Prediction Markets Heat Up Again: Kalshi Raises $300M at $5B Valuation

TradingKey – Following Polymarket’s blockbuster funding round, Kalshi secures $300 million to scale its regulated prediction platform.

According to an October 10 report from The New York Times, U.S.-based prediction market Kalshi has raised $300 million in fresh capital, bringing its valuation to $5 billion. The round was backed by top-tier investors including Sequoia Capital, a16z, Paradigm, CapitalG, and Coinbase Ventures.

This comes on the heels of Kalshi’s rival Polymarket, which recently secured a $2 billion investment from Intercontinental Exchange (ICE) — parent company of the New York Stock Exchange — at a $9 billion valuation. Polymarket CEO Shayne Coplan also revealed two earlier undisclosed rounds: a $55 million raise led by Blockchain Capital and a $150 million round led by Fund.

Ethereum co-founder Vitalik Buterin praised the sector’s evolution, stating:

“Prediction markets have made significant progress since 2015, and Polymarket has been a key driver of that shift.”

Meanwhile, Tom Lee, co-founder of Fundstrat and chairman of Ethereum treasury firm BitMine, commented:

“When prediction markets intersect with tokenized equities and real-world assets (RWA), it creates financial alchemy — unlocking liquidity and streamlining capital formation.”