Kalshi completes $1 billion financing at a valuation of $11 billion, led by Sequoia

The prediction market platform Kalshi has completed a $1 billion financing round, with a new valuation of $11 billion, led by Sequoia.

This round of financing comes less than two months after its previous $300 million financing at a $5 billion valuation. Kalshi allows users to bet on various events and operates within legal boundaries, with an annual trading volume exceeding $50 billion. Its main competitor Polymarket is also rumored to be seeking financing at a valuation of $12-15 billion.