Kalshi receives VC investment, valuation may exceed 10 billion USD

According to ChainCatcher, Bloomberg reports that the prediction market platform Kalshi is receiving financing offers from multiple VCs, with a proposed valuation of around $10 billion to $12 billion.

This news comes after it announced a $300 million funding round at a $5 billion valuation a few weeks ago (led jointly by A16z and Sequoia); in June, it raised $185 million at a $2 billion valuation (led by Paradigm). Kalshi did not respond to requests for comment. On the regulatory front, the CFTC has allowed it to launch more contracts, but there are still disputes regarding state-level gambling regulations. The company claims its annual trading volume has reached $50 billion; competitor Polymarket received up to $2 billion in investment from ICE, with a valuation of about $8 billion.