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Prediction market Kalshi secured a $1 billion funding round at an $11 billion valuation, marking a significant jump from its previous $5 billion valuation. The investment round was led by Paradigm with participation from major firms like Sequoia Capital and Andreessen Horowitz. This funding follows a $30,000 million raise just two months prior, highlighting rapid growth. While Kalshi gained traction for political event predictions, sports betting constitutes a major portion of its trading volume. The company is reportedly planning a partnership with CNN to expand its influence.
Key facts
- Kalshi raised $1 billion at an $11 billion valuation, doubling its value in under two months.
- The funding round was led by Paradigm, with support from Sequoia Capital and Andreessen Horowitz.
- Kalshi previously secured $300 million at a $5 billion valuation just two months ago.
- A significant portion of its trades are tied to sports, not just political events.
- The company is reportedly planning a partnership with CNN for future growth.
