PANews reported on October 23rd that Bloomberg News reported that prediction market platform Kalshi is receiving funding offers from multiple venture capital firms, with a target valuation of approximately $10 billion to $12 billion. This news comes weeks after the company announced a $300 million funding round (co-led by A16z and Sequoia) at a $5 billion valuation ; in June, it secured $185 million (led by Paradigm) at a $2 billion valuation . Kalshi did not respond to requests for comment. Regarding regulations, the CFTC has allowed it to list more contracts, but state-level gambling regulation remains controversial. The company claims annualized trading volume has reached $50 billion; competitor Polymarket has received up to $2 billion in investment from ICE , with a valuation of approximately $8 billion.