Kalshi Raises $300M at $5B Valuation, Expands to 140 Countries

Kalshi, a MIT-founded prediction market startup, has recently raised over $300 million in a new Series D funding round. This brings the company’s valuation to $5 billion. 

This event comes as the company plans to open its prediction market platform to users in over 140 countries. 

This marks a major step in Kalshi’s global expansion plan, cementing its position as the leading player in the space.

Top Industry Investors Back Kalshi’s Latest Funding Round

The latest Series D funding round was led by major investors including Sequoia Capital, Andreessen Horowitz (a16z), Paradigm, CapitalG, and Coinbase Ventures. Industry observers see this funding wave as a sign that prediction markets are gradually becoming mainstream financial instruments. 

With support from major venture capital firms and crypto-focused funds, the company now has both the financial strength and credibility to expand further. The company is now handling about $50 billion in yearly trading volume, showing how quickly it is growing. 

The company recently overtook its main competitor, Polymarket, gaining more than 60% of the global market share in September. This rise comes as Kalshi expands its services worldwide. 

Kalshi’s funding round came a few days after its main rival, Polymarket, announced a major investment from Intercontinental Exchange (ICE). ICE’s planned $2 billion investment values Polymarket at $9 billion. This shows that competition in the prediction market space is heating up.

While Polymarket is preparing to reenter the U.S. market after receiving approval from regulators, Kalshi already has a strong legal foundation and established user base. This gives it a head start in shaping how prediction markets will grow in the coming years.

Kalshi to Expand Access to Event Trading Globally 

Kalshi allows people to trade on the outcome of real-world events such as elections, sports results, and economic data. It is working to make event trading more accessible to everyday users. According to John Wang, Kalshi’s Head of Crypto, the company plans to be available on every major crypto app within a year. 

Kalshi already allows trading through two popular investment apps: Robinhood and Webull, where users can already trade select contracts. 

By expanding to other platforms, Kalshi hopes to bring prediction trading to millions of new users around the world. This is especially for those already familiar with stock and crypto trading.

Kalshi’s Regulatory Wins and Legal Challenges 

Kalshi has built its reputation on following regulations closely. Earlier this year, the U.S. Commodity Futures Trading Commission (CFTC) dropped its legal case against Kalshi’s election contracts, which was seen as a major victory for the company.

However, challenges remain. Some U.S. states have filed lawsuits against Kalshi’s sports-based contracts, arguing that they may break local gambling laws. Despite this, Kalshi continues to operate under a clear federal framework. This gives it an advantage in maintaining trust and expanding responsibly.