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Kalshi Secures $185 Million Funding at $2 Billion Valuation, Led by Paradigm

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By JuneJun 26, 2025

The predictions market platform, Kalshi reaches unicorn status with backing from Paradigm, Sequoia Capital, and other major investors.

Predictions market startup Kalshi has raised $185 million in fresh funding at a $2 billion valuation, officially propelling the company to unicorn status. Kalshi CEO Tarek Mansour confirmed the news in a post on X, noting that the funding round was led by Paradigm and saw participation from Sequoia Capital, Multicoin Capital, Peng Zhao, Neo, and Bond Capital.

Kalshi is now emerging as a rival to Polymarket, which is reportedly close to raising around $200 million at a valuation of over $1 billion.

Kalshi Enables Crypto Deposits, CFTC Drops Appeal in Regulatory Win

Recently, Kalshi also allows users to deposit funds using cryptocurrency, offering an additional funding option alongside traditional methods. Supported assets include USDC, RLUSD, SOL (Solana), BTC (Bitcoin), WLD (Worldcoin), and XRP.

Back on May 5, the U.S. Commodity Futures Trading Commission (CFTC) made headlines by dropping its appeal against Kalshi. This was seen as a positive step for the growth of regulated prediction markets in the U.S.

In addition to its regulatory progress, Kalshi was also involved in a brief partnership discussion earlier this year. In May 2025, Kalshi announced a potential collaboration with xAI to provide AI-powered insights for its prediction market platform. However, the announcement was withdrawn a few hours later, with Kalshi clarifying that the details had not been mutually confirmed. Subsequently, X formed a partnership with Polymarket in June 2025.

Kalshi Paradigm

June

June joined the crypto space in 2021. She's passionate about data, blockchain innovation, and everything Web3.

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