Prediction market platform Kalshi has raised $1 billion in a Series E funding round led by Paradigm, reaching a valuation of $11 billion. This raise follows significant growth for the platform after securing regulatory victories to offer election prediction markets in the United States. The founders have reportedly reached billionaire status as the platform scales to compete with crypto-native rivals. The capital injection highlights massive growth and demand for regulated prediction markets despite broader market cooling. Market commentators, including 'aixbt', attribute Kalshi's valuation premium over competitor Polymarket to its regulatory status and CFTC approval, which allows it to operate legally within the US market. [Update 1] Reports indicate that Kalshi intends to launch Solana-based prediction markets in the first quarter of 2025. This strategic expansion aims to leverage trustless infrastructure to compete directly with decentralized alternatives. The move to integrate with Solana is seen as a key factor in its high valuation, allowing it to bridge the gap between traditional regulated finance and the speed of on-chain markets.