Kalshi Raises ~$1.12B in Equity Funding

The scale of this raise signals that prediction markets are being capitalized as durable infrastructure rather than novelty products, which matters for a sector still navigating regulatory boundaries. It also sharpens competitive pressure on rival venues and on crypto-native platforms that have pursued similar event-contract models. Whether that capital converts into deeper liquidity and broader regulated market access, rather than simply funding expansion, is the open question worth tracking.