Kalshi Raises $1B in Series E Funding, Surging to $11B Valuation 

Kalshi, the fast-growing prediction market platform that allows users to trade on real-world events, has raised $1 billion in Series E financing, propelling the company to an $11 billion valuation. The round was led by Paradigm, with participation from an elite group of investors including Sequoia Capital, Andreessen Horowitz, Meritech Capital, IVP, ARK Invest, Anthos Capital, CapitalG, and Y Combinator. 

Founded in 2018, Kalshi operates a regulated event-contracts exchange enabling traders to take positions on outcomes across politics, economics, technology, entertainment, and thousands of other topics.  

“Kalshi is replacing debate, subjectivity, and talk with markets, accuracy, and truth,” said CEO Tarek Mansour. “We have created a new way of consuming and engaging with information. It’s hard to have an opinion about the future today without thinking about Kalshi.” 

The platform’s growth has accelerated dramatically. Weekly trading volume now exceeds $1 billion, a more than 1,000% increase since 2024, according to the company. Kalshi says “millions” of users now trade across more than 3,500 active markets, ranging from economic indicators and policy decisions to cultural and entertainment outcomes. 

The company plans to deploy the fresh capital to drive mass-market adoption, with ambitions to scale to the next 100 million consumers. Investment will also support deeper brokerage integrations, expanded media and news partnerships, and new market categories to broaden the scope of event-based trading. 

Paradigm co-founder and managing partner Matt Huang highlighted the broader significance of Kalshi’s growth: “Kalshi’s exponential growth shows the scale of latent demand for prediction markets as a new asset class—from institutions to everyday people. We see this as an uncapped cultural and economic phenomenon, like how we felt about crypto a decade ago.”