According to @PANewsCN citing Bloomberg, prediction market platform Kalshi is receiving venture capital approaches for a $10–12 billion valuation range (source: Bloomberg via @PANewsCN). Bloomberg, via @PANewsCN, reports this follows a $300 million round at a $5 billion valuation led by a16z and Sequoia a few weeks earlier and a $185 million round at a $2 billion valuation led by Paradigm in June (source: Bloomberg via @PANewsCN). Kalshi did not respond to requests for comment (source: Bloomberg via @PANewsCN). The CFTC has allowed Kalshi to list more event contracts, while state-level gambling oversight remains disputed (source: Bloomberg via @PANewsCN). Kalshi states its annualized trading volume has reached $50 billion (source: Bloomberg via @PANewsCN). Competitor Polymarket has received up to $2 billion in investment from ICE, with a valuation around $8 billion (source: Bloomberg via @PANewsCN).