According to a New York Times report, the company also has plans to expand, including a potential partnership with CNN.
Predictive marketplace Kalshi has reportedly raised $1 billion at an $11 billion valuation in its third funding round this year.
Paradigm, an existing backer, led the funding round. It also included participation from Sequoia Capital, Andreessen Horowitz, Meritech Capital, IVP, ARK Invest, Anthos Capital, CapitalG, and Y Combinator.
According to a report by The New York Times, the latest valuation has reportedly made the co-founders, Mansour and Luana Lopes Lara, paper billionaires, with each owning 20% to 25% of the company.
The report added that the company is also moving to broaden its reach, including an expected partnership with CNN, according to a source familiar with the arrangement. They said Kalshi aims to leverage media collaborations to increase user adoption and mainstream awareness of predictive marketplaces.
Kalshi, one of the sector’s largest players, previously raised funds this fall at a $5 billion valuation.
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