Overview
- Kalshi announced a Series D of roughly $300 million that closed in August, with the company placing its valuation at about $5 billion.
- The platform says it is now available to users in more than 140 countries, positioning itself as a unified global venue for event contracts.
- Company and third‑party data report about $50 billion in annualized volume and a market share above 60%, recently ahead of Polymarket.
- Growth has concentrated in sports contracts including parlay‑style markets, alongside distribution through broker integrations such as Robinhood and Webull and planned crypto tie‑ins with Solana and Base.
- Despite federal regulation by the CFTC, Kalshi faces lawsuits from several states over sports markets, with federal courts delivering mixed rulings on whether the contracts constitute gambling.