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Prediction market operator Kalshi is receiving investor offers valuing the company at more than $10 billion, according to a Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-10-22/prediction-market-kalshi-fields-investor-offers-at-over-10-billion-valuation?srnd=phx-crypto">report</a>.&nbsp;



That valuation would make Kalshi one of the largest prospective valuations yet for a regulated event-trading platform.&nbsp;



The offers come just weeks after Kalshi closed a $300 million round co-led by Andreessen Horowitz and Sequoia Capital, which pegged the New York-based startup at around $5 billion.



Founded in 2018, Kalshi lets users trade contracts tied to real-world outcomes — from U.S. elections and economic data to sports contests and government shutdown durations.&nbsp;



The company operates under a Commodity Futures Trading Commission (CFTC) license, distinguishing it from crypto-native venues such as Polymarket, a major rival. After a court victory in October 2024 allowed Kalshi to list presidential-election contracts, trading volumes surged to new highs.&nbsp;



Chief executive Tarek Mansour said this month the exchange has reached an annualized volume of $50 billion.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">Kalshi recently raised $300M+ at $5B from Sequoia, a16z, Paradigm and others. Since then, we&#39;ve grown over 3x, hit $50B of annualized volume, and became the largest prediction market in the world. And today…Kalshi goes global. 140+ countries. 1 liquidity pool. <a href="https://t.co/Z2myzRw9bA">pic.twitter.com/Z2myzRw9bA</a>&mdash; Tarek Mansour (@mansourtarek_) <a href="https://twitter.com/mansourtarek_/status/1976641515549348160?ref_src=twsrc%5Etfw">October 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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The competition in prediction markets is intensifying. Intercontinental Exchange, owner of the New York Stock Exchange, recently pledged up to $2 billion in Polymarket at an $8 billion valuation. The National Hockey League became the first major sports league to partner with both Kalshi and Polymarket under multiyear agreements announced this week.



This is a developing story.



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This article was generated with the assistance of AI and reviewed by editor&nbsp;<a href="mailto:jeffrey@blockworks.co" target="_blank" rel="noreferrer noopener">Michael McSweeney</a>&nbsp;before publication.



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