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Prediction-market platform Kalshi has vaulted to an $11 billion valuation, unveiling Tuesday that it secured $1 billion in fresh investor commitments — a staggering leap that signals Wall Street’s widening appetite for event-based trading.

Powerhouse Backers Fuel Series E Surge

In its latest Series E funding round, Kalshi was advised by Cooley LLP and backed by a lineup of heavyweight investors. The round was spearheaded by Paradigm and joined by Sequoia, Andreessen Horowitz, Meritech Capital, IVP, ARK Invest, Anthos Capital, CapitalG, and Y Combinator, according to the company’s Tuesday announcement.

Founded in 2018, Kalshi has carved out prediction markets as an entirely new asset class — a place where users trade on outcomes ranging from politics to economics, transforming speculation into structured financial instruments.

A New Lens on the Future

“Kalshi is replacing debate, subjectivity, and talk with markets, accuracy and truth,” CEO Tarek Mansour said, framing the platform as a sharp-edged alternative to the noise of online discourse. “It’s hard to have an opinion about the future today without thinking about Kalshi.”

The company said the newly raised capital will be deployed to accelerate consumer adoption, expand brokerage integrations, lock down new strategic partnerships, and broaden the platform’s expanding catalog of tradable events.

Trading Frenzy Reshapes Market Behavior

Kalshi’s user base now spans journalists, politicians, analysts, and everyday traders, with weekly trading volume surpassing $1 billion—a more than 1,000% increase over 2024. The platform boasts “millions” of weekly users trading across 3,500+ markets, making it one of the fastest-growing financial platforms in the country.

In a show of predictive precision, the company reported that its market correctly called the 2025 New York City mayoral election just eight minutes after polls closed, underscoring its ambition to turn forecasting into a data-driven science.

Investors See a Cultural Shift

“Kalshi’s exponential growth shows the scale of latent demand for prediction markets as a new asset class — from institutions to everyday people,” said Matt Huang, co-founder and managing partner at Paradigm. “People come for one type of market and stay for the breadth. We see this as an uncapped cultural and economic phenomenon, similar to how we felt about crypto a decade ago.”

Full counsel details for the Cooley LLP team advising Kalshi were not immediately available.