Prediction market Kalshi is reportedly attracting funding offers from venture capital investors that could value the startup at over $US10 billion ($15 billion). This heightened interest comes just weeks after Kalshi announced a $US300 million funding round, which had already set the company’s valuation at $US5 billion.
Sources familiar with the matter, who requested anonymity, indicate that investors are keen to back the rapidly expanding startup. Discussions have revolved around valuations ranging from $US10 billion to $US12 billion or even higher. Kalshi, founded in 2018 and based in New York, operates a platform where users can trade on the outcomes of real-world events. The platform allows trading on a diverse range of topics, from political elections and sports games to more specific events like the duration of government shutdowns.
Earlier this month, Kalshi announced a funding round co-led by Andreessen Horowitz and Sequoia Capital, highlighting the strong investor confidence in the company’s business model. In June, the company secured $US185 million in funding at a $US2 billion valuation, in a deal spearheaded by Paradigm, an investment firm focused on the crypto space.
Kalshi has declined to provide any comments regarding the potential investment. The company enables users to trade on the outcomes of real-world events. This spans from political elections and sports games to how long the government shutdown will last.