Prediction market Kalshi has raised $1 billion in funding at a $11 billion valuation, effectively doubling in value in the space of two months.

After hitting a $5 billion valuation less than eight weeks ago in October, Kalshi has more than doubled in value in the span of less than two months. While prediction markets are under pressure from gambling competitors and regulatory groups alike, Kalshi appears to be going from strength to strength.

The latest valuation was announced by the company’s CEO and co-founder Tarek Mansour, taking to X to announce the milestone.

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

“Kalshi raised $1B at an $11B valuation,” he wrote. “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 up an entirely new category. Today, Kalshi is trusted, used, and loved by millions of people. It’s a part of everyday culture, and it’s driving one of the most important shifts in consumer behavior in recent history.

“The time has finally come for prediction markets to achieve their full potential and we are intent on making that happen. To all the believers and the early adopters: thank you.”

Paradigm has invested in Kalshi over three sequential rounds this year, alongside our friends at Sequoia and a16z.

It’s one of the fastest growing companies we’ve ever seen.

Prediction markets are a civilization-scale truth t...