According to the New York Times, prediction market leader @Kalshi has raised one billion dollars at a valuation of $11 billion, up from a valuation of $5B in October.

Kalshi’s growth makes it the fastest-growing company in the world outside of ChatGPT, and highlights the rare shift in consumer behavior that the company created.

Kalshi has received backing from high-profile investors like Charles Schwab, Sequoia Capital, Andreessen Horowitz, Google, and Kevin Durant.