Crypto Prediction Platform Kalshi Hits $2B Valuation After $185M Series C Round

Kalshi, a regulated crypto prediction market platform, has secured $185 million in Series C funding led by Paradigm, catapulting its valuation to $2 billion. The round saw participation from Sequoia, Citadel Securities, and other prominent investors. CEO Tarek Mansour emphasized the company's mission to build "the most important financial market on the planet" rather than focusing on capital raised.

Paradigm's Matt Huang drew parallels between prediction markets and crypto's early growth trajectory, suggesting the sector could evolve into a trillion-dollar asset class. Kalshi plans to allocate funds toward tech team expansion and broker integrations, having already partnered with Robinhood and Webull. The funding coincides with rival Polymarket's separate $200 million raise, though Kalshi maintains a regulatory advantage as a CFTC-compliant US operator.