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Kalshi raised $1 billion at a valuation of $11 billion after a month with the highest trading volume.

The prediction market platform Kalshi has successfully raised $1 billion in its Series E round, bringing its valuation to $11 billion— the largest milestone for the company. The funding round was led by Paradigm, with participation from Sequoia, Andreessen Horowitz, and ARK Invest. CEO Tarek Mansour stated that Kalshi aims to replace subjective debate and speculation with market-based accuracy, opening up a new approach to information.

Kalshi's valuation has more than doubled from the $5 billion level in October, reflecting the strong growth of the prediction market, where users trade outcomes from politics to sports. The company will use the new capital to expand connections with brokerage firms, media partnerships, and develop additional products.

In November, Kalshi reached a trading volume of 4.54 billion USD—far surpassing its competitor Polymarket—and is currently processing over 1 billion USD each week.

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