Kalshi raises $1 billion at $11 billion valuation, CNN announces integration

Kalshi raised $1 billion at a valuation of $11 billion as CNN announced it would incorporate prediction market data into its news coverage.

This comes as competition in prediction markets heats up, particularly in the United States, while the digital asset space as a whole benefits from the pro-crypto stance taken by President Donald Trump and his administration.

Kalshi Closes $1 Billion Funding Round

Confirming an earlier report from TechCrunch, Kalshi said in a recent statement that it closed a $1 billion Series E round at a valuation of $11 billion.

The round was led by crypto-focused venture capital firm Paradigm and also saw participation from companies including Sequoia, Andreessen Horowitz and Cathie Wood’s ARK Invest.

The latest raise more than doubled Kalshi’s $5 billion valuation secured in a $300 million funding round in October.

Kalshi said the newest funding will be used to integrate with more brokerages, form partnerships with news organizations and expand its offerings.

Forecast Market Volumes Soar in November

This increase also comes against a backdrop of increasing volumes for Kalshi and its rival Polymarket. Both platforms saw record levels of activity in November following wider adoption through a series of integrations.

Kalshi volume soared to $5.54 billion in November. That’s more than the record $4.49 billion set in October. data Token Terminal shows.

Kalshi also said that its trading volumes have increased by approximately 1,000% since 2024 and that activity now exceeds $1 billion per week.

Kalshi edged out its main rival, Polymarket, which set a new record volume (ATH) of $3.76 billion last month. This was up slightly from the previous month’s $3 billion in activity, which was its previous record.

Kalshi and Polymarket record record volumes in November (Source: Token Terminal)

However, Kalshi’s volume dominance could be challenged soon as Polymarket re-enters the US market.

CNN taps Kalshi for market forecasting data

Kalshi volumes could further increase as CNN has named the prediction platform as its official data partner. The collaboration, which was announcement On Tuesday, Kalshi’s data on real-time probabilities of political, cultural and economic events will be integrated into CNN programming and newsroom workflows.

The network plans to integrate Kalshi’s forecasts into on-air analysis and introduce a live ticker that will display the latest market implied odds during segments using the data.

CNN’s integration with Kalshi will be led by Harry Enten, the network’s chief data analyst, who also specializes in polling and probability reporting.

This is the latest integration between a major company and a prediction market platform.

Tokenized predictions powered by Kalshi are live @Solana

More than $2 million in builder grants are open, @AxiomExchange is next, and more channels are coming soon.

Welcome to the “Powered by Kalshi” era. pic.twitter.com/0zlNoyZNDA

-Kalshi (@Kalshi) December 1, 2025

Recently, Google announced that it will connect with Kalshi and Polymarket to display their data in its Google Finance and Search products.

Likewise, the NHL also announced multi-year agreements with Kalshi and Polymarket, and named both official partners of the prediction markets.

Sports and fantasy sports operator PrizePicks has also announced a multi-year partnership with Kalshi that will enable it to power its prediction markets offering. This is similar to the arrangement between Kalshi and Robinhood. The latter also said during its latest earnings conference call that its prediction markets offering is one of its fastest-growing businesses.

Meanwhile, reports began circulating that Galaxy Digital is in talks with both platforms to become a liquidity provider.

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