Kalshi, a prediction market platform, has raised over US$300 million in funding at a US$5 billion valuation, up from US$2 billion three months ago.

The new round was co-led by Sequoia Capital and Andreessen Horowitz, with participation from Paradigm Ventures, CapitalG, and Coinbase Ventures.

Kalshi now allows users in 140 countries to place bets on its platform.

The company is expected to reach US$50 billion in annualized trading volume, up from US$300 million last year.

This funding comes days after competitor Polymarket, which focuses on prediction markets for events like elections, secured up to US$2 billion in investment from Intercontinental Exchange at an US$8 billion pre-money valuation.

🔗 Source: TechCrunch