Kalshi Secures $2B Valuation Amid Prediction Market Boom

Kalshi's $185 million Series C funding round, led by Paradigm with participation from Sequoia and Multicoin, catapults the prediction market platform to a $2 billion valuation. CEO Tarek Mansour attributes this milestone to regulatory victories over the CFTC, which he claims paved the way for institutional adoption. "This is the first time since the Great Depression that you can financialize anything," Mansour declared during a Permissionless panel discussion.

The regulatory battle, which predated Coinbase's clash with the SEC, has created Ripple effects across the prediction market sector. Competitor Polymarket is reportedly nearing unicorn status through a Founders Fund-led round. Market momentum suggests these valuations reflect growing mainstream traction rather than speculative excess.