Kalshi, a prediction market startup known for its platform that allows betting on events such as the US November election, has raised $185 million in a Series C funding round led by venture capital firm Paradigm. This latest funding round values Kalshi at $2 billion, doubling earlier reports of a $1 billion valuation. The company's CEO, Tarek Mansour, confirmed the funding and valuation in a public statement. Meanwhile, Polymarket, another major player in the prediction market space, is preparing to resume operations in the United States following the closure of a Department of Justice investigation. Polymarket's return is seen as a notable development for the US prediction market industry, potentially increasing competition for Kalshi.