The startup trading real-world event outcomes is suddenly drawing Wall Street-style interest. Kalshi, a U.S.-regulated platform, has drawn investor offers that could value it at up to $12 billion. This comes only weeks after it closed a large funding round at a $5 billion valuation.
Crypto-investors and traders will be watching the pricing and platform growth closely. Regulators, too, are in focus as event-based contracts push into new terrain.
The prediction-market platform Kalshi has recently completed a funding round of around $300 million at a $5 billion valuation, according to sources.
Now, investors are reportedly discussing fresh backing at valuations ranging from $10 billion to $12 billion or more. That jump reflects intense interest in the company’s model, especially where crypto and real-world events intersect.
The move into event contracts and prediction markets has attracted crypto-natives chasing new trading venues. As a result, Kalshi’s role in the broader crypto ecosystem is gaining visibility. For crypto investors the valuation jump raises questions about future price action in related tokens or platforms.
Kalshi has claimed annualised trading volume reaching about $50 billion, according to multiple reports. That kind of scale is drawing attention from crypto-driven investment funds and blockchain-friendly backers.
At the same time, the company operates under U.S. federal regulation via the CFTC, which gives it a compliance edge in the crypto landscape. The regulatory clarity makes event-trading contracts more accessible to crypto platforms looking to integrate non-tokenised markets.
Furthermore, Kalshi is reportedly exploring tie-ups with large crypto applications and exchanges as part of its growth roadmap. The crypto price community often chases platform plays where growth intersects crypto liquidity.
In that sense, Kalshi’s valuation chatter signals a broader shift: crypto investors are watching non-tokenised yet crypto-adjacent protocols for upside.
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