SAN FRANCISCO / LONDON (IT BOLTWISE) – Kalshi, a leader in prediction markets, has closed an impressive $1 billion funding round, valuing the company at $11 billion. This development follows a record month in November, where the platform’s trading volumes reached new heights.
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Kalshi, a prominent prediction markets provider, recently closed a remarkable funding round that raised $1 billion for the company and boosted its valuation to $11 billion. This development comes after a record month in November, where the platform’s trading volume reached new heights. The funding round was led by cryptocurrency-focused venture firm Paradigm, with participation from other notable investors including Sequoia, Andreessen Horowitz and Cathie Wood’s ARK Invest.
Kalshi CEO Tarek Mansour emphasized that the company aims to replace debate and subjectivity with markets and accuracy. Kalshi has created a new way of processing and consuming information based on the collective intelligence of users. This platform allows users to bet on a wide range of events, from sporting events to geopolitical developments.
In November, Kalshi’s trading volume reached $4.54 billion, surpassing the previous record of $4.49 billion in October. This impressive achievement shows the enormous growth potential of prediction markets, which are increasingly being integrated into other products. Google recently announced that it will integrate Kalshi and Polymarket odds into its search results, which should further increase the visibility and usage of these platforms.
Polymarket, a close competitor of Kalshi, also posted a record volume of $3.76 billion in November. Both companies benefit from the growing adoption and strategic partnerships they are entering into with other platforms. These developments highlight the potential of prediction markets to serve as an innovative method for determining probabilities and making decisions in various areas.
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