Prediction market Kalshi weighs investor deals valuing it above $10 billion

Prediction market Kalshi is getting new funding offers that could lift its value past $10 billion, according to a report from ￰0￱ interest comes just weeks after the New York-based company wrapped up a $300 million funding round that valued it at $5 ￰1￱ capital firms are now lining up to pour more cash in, with some discussions floating valuations as high as $12 ￰2￱ people involved in the talks didn’t want to be named because the details are private, but the appetite for this startup is clearly heating ￰3￱ this month, Kalshi said its latest round was co-led by Andreessen Horowitz and Sequoia ￰4￱ in June, the company raised $185 million at a $2 billion valuation, led by crypto-focused investor ￰5￱ lets users trade on the outcomes of real-world events, anything from presidential elections and sports games to the duration of a government ￰6￱ a recent post on X, co-founder and CEO Tarek Mansour said the company’s annualized trading volume hit $50 ￰7￱ expands after court win and surging volumes For years, regulators treated prediction markets like a legal grey ￰8￱ changed after Kalshi’s court victory last October, which gave it the right to list presidential election ￰9￱ ruling ignited a flood of trading on the platform, sending volumes to new ￰10￱ used its federal license to open markets on sports contests nationwide, expanding what users can legally trade ￰11￱ move has boosted its growth and put it in a tighter race with its closest competitor, ￰12￱ person familiar with the company’s latest fundraising reportedly told Bloomberg that the new capital could “strengthen Kalshi’s position in a crowded and fast-moving space.” Both platforms have become magnets for speculators betting on everything from political outcomes to global sports ￰13￱ capital firms are allegedly competing for early stakes in Kalshi and even making unsolicited, preemptive offers before the company even opens new fundraising rounds.

Meanwhile, the Commodity Futures Trading Commission (CFTC) has allowed Kalshi to expand its event-based markets, but state gaming regulators, who traditionally oversee sports betting, have been pushing back in ￰14￱ CFTC says it still has concerns of market manipulation and insider trading in platforms like ￰15￱ Street companies and gambling operators are moving fast to partner with prediction exchanges before the industry ￰16￱ National Hockey League this week announced multiyear partnerships with both Kalshi and Polymarket, making it the first major ￰17￱ league to embrace these markets ￰18￱ the same time, the industry is seeing an arms race in ￰19￱ recently, Cryptopolitan reported that the Intercontinental Exchange (ICE), which owns the New York Stock Exchange, would invest up to $2 billion in Polymarket at a valuation of around $8 billion, a massive jump from its $1 billion market cap earlier this year in a Founders Fund-led ￰20￱ up to Bybit and start trading with $30,050 in welcome gifts