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3h ago

Kalshi Raises $300 Million at $5 Billion Valuation, Opening Access in 140 Countries

The CFTC-regulated exchange confronts state gambling lawsuits over its sports markets.

Kalshi raises $300m at $5b valuation, expands prediction markets to 140 countries: nyt
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Kalshi raises $300M at $5B valuation

Overview

  • Kalshi’s new funding round includes Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG, and Coinbase Ventures, according to multiple reports.
  • The company reports an annualized trading volume pace of about $50 billion, up from roughly $300 million last year, and now holds more than 60% of global market share.
  • Growth has been propelled by sports-focused contracts, including parlays, which have coincided with recent share declines for DraftKings and FanDuel’s parent company.
  • Kalshi has integrated its event contracts into retail brokerages such as Robinhood and Webull to broaden mainstream access.
  • The raise lands as rival Polymarket disclosed that Intercontinental Exchange intends to invest up to $2 billion in its platform, signaling intensifying competition.