Prediction market platform Kalsi has reportedly raised an additional $1 billion from at least two venture capital firms, increasing its valuation to $11 billion.
Kalsi’s latest funding round was led by Sequoia Capital and CapitalG, TechCrunch reported Thursday, citing people familiar with the matter.
Andreessen Horowitz (a16z), Paradigm, Ansos Capital and Neo are among other Calsi investors who did not participate in the latest $1 billion funding round.
This comes about a month after Kalsi expanded to 140 countries and raised $300 million in October. Sequoia participated in that deal, as did a16z and Paradigm.
This puts Kalsi’s valuation in line with rival prediction platform Polymarket, which is reportedly seeking a new funding round at a valuation of $12 billion to $15 billion.
Prediction markets allow users to buy and sell “yes” or “no” stocks as a way to bet on real-world events, from elections and sports to the outcome of corporate earnings and cultural events.
Kalsi and Polimarket continue to lead the pack
Kalshi and Polymarket are the two largest prediction market platforms, with a combined trading volume of over $17.4 billion since September, according to DefiLlama data.
Kalsi has the upper hand, capturing 61.4% of the trading volume during the period.
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Polymarket was banned from providing services to US residents starting in 2022 due to regulatory issues, but returned in “beta mode” earlier this month. He is aiming for a full recovery by the end of this month.
Calci and Polimarket have recently undergone major consolidation.
Polymarket has also secured a significant number of integrations or planned integrations in recent months, including MetaMask, Google Finance, and Yahoo Finance.
Google Finance has also integrated Kalshi, and in recent months Robinhood, Elon Musk’s xAI, Grok and Pyth Network have also integrated.
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