Rival Polymarket raises $300 million in latest fundraising campaign

Kalshi, the US-regulated prediction market, has raised $300 million in new funding at a $5 billion valuation. The New York Times reported On October 10th.

Founded by Tarek Mansour and Luana Lopez Lara in 2018, Calci is regulated by the Commodity Futures Trading Commission (CFTC). It allows users to trade the outcomes of events such as federal policy, box office results, etc.

Calci’s sports-based contracts, including complex investments, have pushed the platform to the frontiers of the prediction market. Until now, I have followed the strategy of compliance first so as not to fall foul of the authorities.

Related: What is Encryption? Cryptocurrency explained

A competitor to the world’s largest forecasting marketplace Polymarket which allows users to buy orders in cryptocurrencies, Kalshi has attracted not only institutional traders but also native crypto traders over the years.

Big players from Wall Street and DeFi led Calci’s Series D funding round in August.

• Sequoia

• Andreessen Horowitz (a16z)

• model

• Coinbase Ventures, the venture capital arm of the largest US cryptocurrency exchange Coinbase (Nasdaq: COIN)

• capital

• General catalyst

• Spark Capital

Kalshi is now also available in over 140 countries.

“Tareq and Louana have chosen the difficult but most responsible path to becoming the first CFTC-regulated prediction market, and their market breadth, liquidity and infrastructure are designed to scale.” said Alex Imerman, Partner at a16z Growth Fund. “Calci has the opportunity to capture what may become the largest and most important financial market.”

Only recently, Polymarket Announced raise Up to $2 billion from the New York Stock Exchange’s parent company, InterContinental Exchange, Inc. (NYSE:ICE), at a post-cash valuation of $9 billion.

Polymarket, founded by Shayne Coplan in 2020, is a prediction market similar to Kalshi except that it accepts cryptocurrency payments. Latest investment round Coplan turned The youngest self-made billionaire in the world at 27 years old.

This story was originally reported by The Street On October 10, 2025, he first appeared in Investment to divide. Add TheStreet as Favorite source by clicking here.