Net worth doubled! American predicted market star Kalshi receives venture capital acclaim, valued at over $10 billion.

According to informed sources, the prediction market platform Kalshi is currently receiving investment invitations from venture capital firms, with the valuation of this start-up company expected to exceed $10 billion. Just a few weeks ago, Kalshi announced the completion of a $3 billion financing round, with a company valuation at that time of $5 billion. The sources indicated that investors have shown great interest in this rapidly growing start-up company, and discussions regarding investment have started, with the valuation range being between $10 billion and $12 billion, and even possibly higher. Earlier this month, Kalshi announced the completion of a financing round led by Anderson Horowitz Fund and Sequoia Capital. In June of this year, the company also completed a $185 million financing round led by the cryptocurrency investment firm Paradigm, with a valuation of $2 billion at that time. Kalshi declined to comment on the latest financing activities. Founded in 2018 and headquartered in New York, Kalshi allows users to trade on the outcomes of real-world events, covering a wide range of events from political elections, sports events to how long a government shutdown will last. Regulatory agencies have previously questioned such businesses, but in October of last year, Kalshi won a lawsuit and was allowed to launch contract products focusing on presidential elections. Since then, trading volume on the prediction market has seen explosive growth. By utilizing its financial license, Kalshi has opened up sports betting operations nationwide in the United States. This recent move has not only boosted its own trading platform, but also led to a surge in trading volume for its direct competitor Polymarket. A source familiar with Kalshi's financing negotiations stated that additional funding could help the company solidify its position in the intense competition with its competitors. As expectations rise for prediction markets to disrupt traditional finance and gambling industries, Wall Street institutions and gambling companies are rushing to establish partnerships with relevant platforms. This week, the NHL announced multi-year partnerships with Kalshi and Polymarket, becoming the first mainstream sports league to establish partnerships with prediction market platforms. Intercontinental Exchange, Inc., the parent company of the New York Stock Exchange, recently announced that it will invest up to $2 billion in Polymarket with a valuation of about $8 billion, excluding the funds already raised. This is a significant increase from the $1 billion valuation when Founders Fund led the investment earlier this year. In the hot industry, it is not uncommon for high-profile start-up companies to receive preemptive investment invitations from venture capital firms. In the fiercely competitive market environment, venture capital firms are increasingly inclined to propose bold investment plans before the formal financing process begins. Currently, apart from the field of artificial intelligence, the prediction market track where Kalshi and Polymarket are located is one of the few emerging areas that can attract a large influx of funds. However, prediction markets still face significant regulatory uncertainties. Although the U.S. Commodity Futures Trading Commission has allowed Kalshi to explore new markets, state gambling regulatory agencies traditionally responsible for overseeing sports betting have taken a resistance stance in court. Additionally, legal issues related to market manipulation, insider trading, and others have yet to have clear answers. Tarek Mansour, co-founder and CEO of Kalshi, recently posted on the social platform X, stating that the company's annualized trading volume has now reached $50 billion.