Kalshi’s Valuation Skyrockets to $11 Billion as Prediction Markets Explode

Prediction markets aren't just for political junkies anymore—they're minting billion-dollar valuations.

Kalshi just doubled its worth to a staggering $11 billion. That's not a typo. The platform, where users bet on everything from election outcomes to inflation rates, is riding a wave of mainstream curiosity and speculative cash. Traditional finance is watching, scratching its head.

Why the Boom?

Forget dry economic forecasts. People want skin in the game. Kalshi turns world events into a tradable asset, letting the crowd's wisdom—or madness—set the price. It's a direct challenge to pundits and pollsters who've been wrong more times than a broken clock.

The New Casino?

Critics call it glorified gambling dressed in a fintech blazer. Supporters see a revolutionary tool for price discovery and hedging real-world risk. Either way, money talks. The $11 billion price tag screams that investors believe the hype—and the house always wins.

Finance's latest shiny toy proves one old rule: if you build a better casino, Wall Street will line up for chips. Just don't call it gambling when the valuation doubles.

TLDR

• Kalshi raised $1 billion in Series E funding led by Paradigm, reaching an $11 billion valuation
• The company’s trading volume hit $4.54 billion in November, surpassing Polymarket’s $3.76 billion
• CNN partnered with Kalshi to integrate real-time prediction market data into its news coverage
• Kalshi’s valuation more than doubled from $5 billion in October to $11 billion in December
• Trading volumes on Kalshi have grown 1,000% since 2024 and now exceed $1 billion weekly

Prediction market platform Kalshi has closed a $1 billion Series E funding round at an $11 billion valuation. The round was led by crypto-focused venture firm Paradigm with participation from Sequoia, Andreessen Horowitz, and ARK Invest.

Kalshi raised $1B at an $11B valuation.

A decade ago, only a few thousand people knew what a prediction market was.

Eighteen months ago, most prediction markets were banned – until we overcame the government to set them free.

Over the past seven years, our community has opened… pic.twitter.com/hGDkYxkSlh

— Tarek Mansour (@mansourtarek_) December 2, 2025

The new valuation represents more than double Kalshi’s previous $5 billion valuation from October. That earlier round raised $300 million for the company.

Kalshi CEO Tarek Mansour stated the platform is replacing debate and subjectivity with markets and accuracy. The company plans to use the funding to integrate more brokerages and FORM partnerships with news organizations.

The funding comes after Kalshi posted its best monthly trading volume in November. The platform recorded $4.54 billion in trading volume for the month, according to Token Terminal.

This surpassed its previous record of $4.49 billion set in October. Kalshi now processes more than $1 billion in weekly trading volume.

Record Trading Volumes

Trading volumes on Kalshi have grown 1,000% since 2024. The platform has pulled ahead of its closest competitor Polymarket in monthly volume.

Polymarket recorded $3.76 billion in trading volume for November. This built on the $3 billion in volume the platform processed in October.

Google added Kalshi and Polymarket odds to its search results last month. The integration is part of Google Finance’s AI-focused revamp.

Crypto exchange Coinbase was found working on a prediction markets platform last month. Documents indicated the platform WOULD be powered by Kalshi.

CNN Partnership

CNN announced Tuesday it has named Kalshi as its official data partner. The network will integrate real-time prediction market data into its programming and newsroom workflows.

"CNN has stuck a partnership with Kalshi, the world's largest global prediction market company," @sarafischer reports.

That means the cable news network is now in business with the president's son, Donald TRUMP Jr., a senior adviser to the company. https://t.co/Vr64r146ic pic.twitter.com/cKl3qO3l1O

— Matthew Gertz (@MattGertz) December 2, 2025

CNN’s chief data analyst Harry Enten will incorporate Kalshi’s market odds into his coverage. The data will serve as an additional data point for assessing political and cultural developments.

The partnership includes a live ticker that will display market-implied odds during relevant segments. CNN’s editorial, data, and production teams will have access to Kalshi’s real-time feeds.

The feeds will support graphics generation and provide context for reporting. They will also help develop storylines around shifting expectations in US politics and major news cycles.

Polymarket is reportedly in talks with investors for a funding round. The company is seeking a valuation between $12 billion and $15 billion after raising $200 million in June at a $1 billion valuation.