Kalshi raises to USD 11B, fuels Polymarket competition
The prediction market is once again making headlines in the United States. Kalshi, one of the most influential regulated platforms in the sector, closed a USD 1 billion funding round, a move that boosts its valuation to USD 11 billion and places it just a short distance from Polymarket, its main competitor in the crypto ecosystem.
A funding round that doubles its value in a few weeks
The operation, led by firms such as Sequoia Capital and CapitalG, also included participation from Andreessen Horowitz, Paradigm, Anthos Capital, and Neo, consolidating Kalshi as one of the most attractive players for venture capital in the predictive markets segment.
The most striking aspect is the speed of growth:
- A month ago, Kalshi had raised USD 300 million on a valuation of USD 5 billion.
- With this new round, the company more than doubled its valuation, an indicator of the accelerated interest in this type of platform.
Meanwhile, Polymarket — based on blockchain — aims for a valuation between USD 12 billion and USD 15 billion, showing the tight race both maintain for leadership in the sector.
Regulation vs. decentralization: two models competing for the same market
Kalshi has built its growth on an element that differentiates it from the crypto universe: it has the approval and supervision of the Commodity Futures Trading Commission (CFTC), something unusual in this type of service in the United States.
This allows it to offer regulated contracts on real events, such as:
- Economic indicators (inflation, employment)
- Political processes
- Results of current events
Its regulated approach attracts institutional users and more conservative profiles, who prioritize legal security.
In parallel, Polymarket proposes an opposite model:
- infrastructure based on blockchain,
- operations in cryptocurrencies,
- decentralization and absence of centralized control.
This scheme is more attractive to crypto communities that value resistance to censorship and the transparency of smart contracts.
The regulatory framework will set the pace of the competition
The industry is closely watching the regulatory debate in the United States. Greater pressure on unsupervised crypto platforms could strengthen Kalshi’s position. Conversely, a more flexible regulatory environment could favor the growth of Polymarket and other decentralized players.
The truth is that both platforms are capturing unprecedented interest, and Kalshi’s latest financial move confirms that prediction markets are consolidating as one of the most dynamic emerging segments in the digital financial sector.
Tags: United States, United States betting, predictive markets betting, predictive markets, Polymarket, Kalshi