INSUBCONTINENT EXCLUSIVE:
Kalshi, a prediction market and competitor to Polymarket, has reportedly closed a $185 million funding round that values the company at $2
billion, indicating growing investor appetite for the emerging sector.The round was led by crypto investment company Paradigm, with
participation from venture capital companies Sequoia Capital, Multicoin Capital and other investors, The Wall Street Journal reported on
contracts into more brokerage platforms
Currently, Kalshi contracts are available through Webull and Robinhood Markets.Prediction markets have gained traction as an alternative to
traditional polling, with proponents arguing that they offer more accurate forecasts by aggregating the collective expectations of
participants.Founded in 2018 by Mansour and Luana Lopes Lara, Kalshi previously raised a total of $156 million in capital, according to
A key distinction between the two is that Kalshi is federally regulated and authorized to operate in the United States, while Polymarket is
developments impacting its businesses.In September 2024, the US Commodity Futures Trading Commission (CFTC) filed an appeal challenging a
court decision that had allowed Kalshi to proceed with offering political event contracts.The legal dispute centered on whether these
contracts violated restrictions against gambling under federal commodities law
In May 2025, the CFTC moved to dismiss its appeal, clearing regulatory issues and potentially opening the door for the regulation of
political prediction markets in the US.Both Kalshi and Polymarket saw a surge in activity during the November 2024 US presidential election,
cryptocurrency and economics to the weather and ongoing events
