Polymarket Rival Kalshi's Valuation Soars To $11 Billion After $1 Billion Reported Fundraise

Author: Namrata Sen | November 21, 2025 08:38am

Kalshi, a prediction market startup, has seen its valuation skyrocket to $11 billion after reportedly securing a substantial $1 billion funding round.

Investors Fuel Multi-Billion Jump

The latest valuation comes after the company’s previous fundraise of $300 million, which pegged its worth at $5 billion. The new round is spearheaded by existing investors Sequoia and CapitalG. Other backers include Andreessen Horowitz, Paradigm, Anthos Capital, and Neo, according to a report by TechCrunch on Thursday, citing a person familiar with the deal.

The company did not immediately respond to Benzinga‘s request for comment.

The news comes amid talks that Kalshi's rival Polymarket has also been in talks for a new funding round that could value the firm between $12 billion and $15 billion, after its valuation soared this year from $1.2 billion to $9 billion earlier in October, after a $150 million round led by Peter Thiel‘s Founders Fund in June.

See Also: Ray Dalio Reveals He Has ‘Forever’ Had 1% Of His Portfolio Tied Up In Bitcoin, But Still Has These Fears About The Future of BTC

Major Shifts In The Prediction Market

The prediction market industry has been experiencing significant shifts. In October, it was reported that Kalshi was making inroads into the decentralized finance (DeFi) sector, a move that was seen as a pivot from its conventional, regulator-approved approach. This shift was aimed at making the prediction market more accessible and scalable.

Earlier this month, Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) subsidiary Google indicated its plans to integrate prediction market data from Kalshi and Polymarket on its Google Finance platform.

However, the industry faced a setback in November when a New York State bill sought to ban sports-related prediction markets for residents. This led to a decline in the shares of sports-focused firms, including those involved in sports betting, such as DraftKings (NASDAQ:DKNG) and Flutter Entertainment (NYSE:FLUT).

READ NEXT:

• Polymarket Bags Partnerships With PrizePicks, Yahoo Finance As Preparations For U.S. Return Gather Steam

Image via Shutterstock

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Posted In: DKNG FLUT GOOG GOOGL