The prediction market platform Kalshi has completed $1 billion in financing, led by Sequoia and CapitalG.

On November 21, sources revealed that the prediction market platform Kalshi raised $1 billion in its latest funding round, bringing the company's valuation to $11 billion. This comes less than two months after the seven-year-old startup announced its previous round of $300 million funding at a $5 billion valuation. Sources indicated that this round of financing was led by Kalshi's existing investors Sequoia Capital and CapitalG. Other investors included a16z, Paradigm, Anthos Capital, and Neo. According to Bloomberg, Kalshi's main competitor Polymarket was also in talks for a new funding round last month, with a valuation range of $12 billion to $15 billion, while just a few weeks ago, Polymarket completed a $1 billion funding round at an $8 billion pre-money valuation. Since last year, both Kalshi and Polymarket have seen a significant rise in popularity as they allow users to bet on presidential election outcomes. Earlier this month, both platforms accurately predicted the results of the New York City mayoral election, further boosting the visibility of these betting prediction websites. Kalshi allows users from over 140 countries to bet on various future events, ranging from Time magazine's Person of the Year in 2025, the Rotten Tomatoes score of the movie Wicked, to longer-term events such as the ultimate winner of the next U.S. presidential election.