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Kalshi raised $1 billion with a $11 billion valuation. This round is again led by Paradigm.



Paradigm has led several funding rounds for Kalshi, a competitor of Polymarket, including a $185 million Series C round in June 2025 (valued at $2 billion) and a $1 billion round in December 2025. Team members at Paradigm, such as former employee Liam Kovatch, may have personal connections with Polymarket.
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