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Kassim Khanefar
1 week, 5 days ago

Prediction Market News: Kalshi Reportedly Raises $100M

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Prediction market Kalshi, a federally regulated competitor to Polymarket, has raised more than $100 million at a valuation of $1 billion, according to a report from Bloomberg.

This comes less than a day after reports emerged that Polymarket was raising $200 million at the same unicorn valuation, led by Peter Thiel's Founders Fund.

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Publicly available data from Kalshi's API curated by Polymarket Analytics (not affiliated with Polymarket) shows that Kalshi has around $113 million in current active trading volume across all open markets, while Polymarket has just under $600 million.

(Polymarket Analytics)

Kalshi now hosts more active markets than Polymarket, but remains behind in open interest, a key metric that reflects liquidity and trader conviction in prediction markets.

A Dune dashboard shows that Polymarket has around 186,000 active traders.

Paradigm led Kalshi's latest round. The crypto-focused VC recently led the Series A round for GTE, a decentralized exchange (DEX) that looks to rival HyperLiquid in speed.

In January, Donald Trump Jr. announced he was joining Kalshi as a senior advisor.
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