Cashi doubles its valuation to $11 billion with a $1 billion funding round

Prediction platform Kalshi has secured $1 billion in new funding, pushing its valuation to $11 billion.

The move comes amid the rapid integration of forecasting platforms into the mainstream. Users head to these sites to bet on everything from elections and cryptocurrency prices to even daily temperature readings.

Kalshi’s valuation reaches $11 billion after its latest record round of funding

Kalshi’s latest capital raise came less than two months after the company raised $300 million at a $5 billion valuation. According to people familiar with the matter, he said TechCrunch The new round was led by previous investors and new investors.

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Returning investors include Sequoia and CapitalG. They are joined by Andreessen Horowitz, Paradigm, Anthos Capital and Neo. Meanwhile, the competition platform Polymarket seeks funding for its own ambition, The goal of a valuation of $ 12 billion.

Kalshi emerged as the leading prediction platform, surpassing it Polymarket in September. However, its dominance has recently been challenged by Opinione.

Data from Dune Analytics showed that the platform recorded a nominal weekly volume of $1.46 billion. This was slightly higher than Kalshi’s $1.2 billion, while… Polymarket came from behind For less than $1 billion.

However, Kalshi continued its expansion. The platform now serves users in more than 140 countries. And secondData tracker Officially, Kalshi’s cumulative transaction number has reached more than 68.4 million, with a cumulative trading volume exceeding $17 billion.

In addition, prediction markets continue to gain visibility in the mainstream, supported more and more by the step The latest for Google. Google Finance has integrated real-time data from both Kalshi and Polymarket, marking a remarkable step in making event-based trading available to a wider audience.

Despite this growth, Kashi faces mounting legal challenges. The platform operates as a federally regulated designated contract marketplace Under the Commodity Futures Trading Commission.

The company said what you do Cash is regulated by the Commodity Futures Trading Commission (CFTC) – an independent agency of the US government that has regulated US derivatives markets since 1974 and is subject to congressional oversight.

However, problems are emerging at the state level. In Massachusetts, Attorney General He filed a lawsuit in September aimed at preventing the company from offering its sports prediction products in the state.

in NevadaU.S. District Court Judge Andrew Gordon indicated he might reconsider his April decision granting Kashi a temporary restraining order against enforcement of the state’s gambling laws. The Maryland Regulatory Commission denied the platform’s request for a temporary restraining order.

Finally, in New York, the company took the offensive and submitted process To prevent the state Gaming Commission from classifying their sports betting markets as illegal gambling.