(Reuters) -Kalshi has raised $185 million in a funding round that values the prediction marketplace at $2 billion, its CEO Tarek Mansour said in a post on X on Wednesday.
The round was led by crypto-focused investment firm Paradigm, Mansour said. Investment firms Sequoia, Multicoin, Neo and Bond Capital, and Citadel Securities CEO Peng Zhao also participated.
Kalshi offers its users opportunities to profit from predictions on everything from sports and entertainment to politics and the economy. Such event contracts have exploded in popularity since the U.S. presidential election last year.
The company is regulated by the Commodity Futures Trading Commission, according to its website.
Kalshi’s rival, Polymarket, is also close to raising $200 million in a round that values it at more than $1 billion, Reuters reported on Tuesday.
(Reporting by Niket Nishant in Bengaluru; Editing by Maju Samuel)
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