Kalshi, the US-based forecasting market platform, has announced a $185 million funding round, reaching a valuation of €2 billion. The round was led by Paradigm, with participation from Sequoia, Multicoin, Neo, Bond Capital, and Peng Zhao from Citadel Securities.
The company plans to use this new investment to expand its platform, add new forecast markets, and reach the mainstream investor audience.
Founded in 2018 by Tarek Mansour and Luana Lopes Lara, Kalshi stands out as a forecasting platform where users can invest in real-world events by predicting them through yes/no positions.
These predictions span a wide range of sectors, including election results, economic indicators, weather forecasts, and cultural events. By turning forecasting markets into an investment tool, Kalshi enables users to analyze real-world events and convert insights into financial decisions.
It’s worth noting that earlier this week, Kalshi’s major competitor, Polymarket, secured $200 million at a $1 billion valuation.
