Paradigm led a $1bn Series E round in Kalshi.

Paradigm, a research-driven technology investment firm, led a $1bn Series E round in Kalshi, a developer of an online financial trading platform, with participation from Sequoia, Andreessen Horowitz, Meritech Capital, IVP, ARK Invest, Anthos Capital, CapitalG and Y Combinator. "Kalshi's exponential growth shows the scale of latent demand for prediction markets as a new asset class—from institutions to everyday people. People come for one type of market and stay for the breadth. We see this as an uncapped cultural and economic phenomenon, similar to how we felt about crypto a decade ago,” Matt Huang, Paradigm Co-Founder and Managing Partner.