Kalshi closes $185M round as rival Polymarket reportedly seeks $200M

image via TechCrunch

June 25, 2025, 8:01 PM

• •Kalshi secured a $185 million funding round, led by Paradigm.
• •Polymarket is reportedly raising $200 million, but faces regulatory challenges.
• •Prediction markets utilize blockchain for betting on various outcomes.
• •Kalshi is regulated by the CFTC, unlike the banned Polymarket in the U.S.

Kalshi successfully raised $185 million in a funding round led by Paradigm, boosting its valuation to $2 billion. This investment highlights the growing interest in prediction markets, with Paradigm's co-founder seeing it as a new asset class. Meanwhile, Polymarket, Kalshi's rival, is seeking $200 million but is dealing with regulatory issues and a ban in the U.S. since 2022. The key difference lies in Kalshi's regulated status with the CFTC, contrasting Polymarket's regulatory hurdles.

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