Kalshi Achieves Unicorn Status With $100M Raise, Rivaling Polymarket’s Valuation

Prediction market platform Kalshi has joined the unicorn club after securing over $100 million in fresh funding at a $1 billion valuation, according to Bloomberg. The milestone comes just hours after reports revealed competitor Polymarket is raising $200 million at the same valuation, backed by Peter Thiel's Founders Fund.

Despite being federally regulated, Kalshi trails Polymarket in open interest—a critical liquidity metric—with $113 million in active trading volume versus Polymarket's $600 million. Paradigm, the crypto-focused venture firm behind recent investments in decentralized exchange GTE, led Kalshi's latest round.

The rivalry intensifies as Kalshi now hosts more active markets, while Polymarket maintains dominance with 186,000 traders. Political ties emerge as a differentiator: Donald TRUMP Jr. joined Kalshi as senior advisor in January, adding institutional credibility to the prediction market space.