📝 Kalshi raises $1B

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Kalshi has raised $1 billion at an $11 billion valuation, doubling its value in less than two months. Paradigm, Sequoia, Andreessen Horowitz, Capital G, and other existing backers piled into the prediction market’s latest round. The platform, best known for election betting but primarily driven by sports trades, is preparing a partnership with CNN and positioning itself as a tool for companies to hedge risks tied to politics, weather, and other operational uncertainties. The massive uplift also intensifies its rivalry with Polymarket, which is reportedly seeking a $12–$15 billion valuation.

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