Ah, What We Must Know:
- In a grandiose display of financial prowess, the U.S.-regulated prediction market closed a monumental round of funding, led by the ever-astute Paradigm, with the venerable Sequoia and CapitalG, that darling of Alphabet’s equity realm, joining the fray.
- Kalshi, in its most recent bout, triumphantly posted $4.47 billion in trading volume for the third quarter-an elegant pirouette past Polymarket’s humble $3.5 billion, as reported by TokenTerminal. Bravo, Kalshi!
- This delightful raise follows a quaint $300 million round back in October, while Polymarket, like a coy maiden, reportedly flirts with potential backers, eyeing a valuation of a cool $15 billion.
Kalshi, that sprightly prediction market based in the grand U.S. of A, has taken the stage with aplomb, closing its $1 billion financing round, propelling its valuation to an awe-inspiring $11 billion. The news, no doubt, struck with the subtlety of a well-timed bombshell, much like the recent TechCrunch revelation.
The round, as dazzling as a Broadway debut, was led by Paradigm, with the venerable Sequoia Capital and CapitalG-the financial equivalent of old-money aristocrats-gracing the proceedings. Oh, the intrigue of it all! News of the raise had the delightful scent of wealth, wafting through the pages of TechCrunch just last month.
Kalshi, not content to rest on its laurels, has become the undisputed queen of binary event contracts. These curious contracts let users trade on the outcomes of future real-world events, such as political races (because who doesn’t love a bit of chaos?) and legislation. In its most recent act of market supremacy, Kalshi surpassed its rival, Polymarket, by amassing $4.47 billion in trading volume in Q3, leaving Polymarket’s $3.5 billion to hang its head in shame. Ah, what a delightful victory it must be for Kalshi!
“Kalshi is replacing debate, subjectivity, and talk with markets, accuracy, and truth,” chirped Tarek Mansour, the CEO of Kalshi, with all the eloquence of a man who knows his market well. “We have created a new way of consuming and engaging with information. It’s hard to have an opinion about the future today without thinking about Kalshi.” Quite, Mr. Mansour, quite.
The company, founded in 2018 (so young, so full of promise), was the first U.S.-regulated prediction market, and it is now planning a global expansion. Such ambition! And all of this, mind you, after raising a neat $300 million at a valuation of $5 billion in October.
Meanwhile, Polymarket, that cheeky upstart, is not one to be left in the dust. The rival platform, ever the glutton for capital, is reportedly in talks to raise even more funds. Could they rival Kalshi’s current ascendancy? Well, it seems their executive team is aiming for a valuation somewhere between $12 billion and $15 billion. A lofty ambition indeed. Time will tell, dear reader, time will tell.
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2025-12-02 19:01