Kalshi is the largest prediction market by trading volume and a rival of Polymarket. It enables both Web2 and crypto users to trade outcomes on multiple real-world topics and earn rewards if the results are forecasted accurately.
On November 20, 2025, the Kalshi betting app closed a $1B private round at a $11B valuation with the participation of Paradigm, a16z, Sequoia Capital, and CapitalG.
| Fund | Score | Type | Retail ROI | Numbers of investments |
|---|---|---|---|---|
| High | 0.35x | 29 | ||
| Very High | 174.04x | 24 | ||
| Very High | 0.04x | 17 |