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42m ago

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

Kalshi, regulated by the CFTC, says the new funding powers a 140-country rollout despite mounting legal challenges.

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

  • The company reports holding more than 60% of global prediction‑market activity and about $50 billion in annualized trading volume, up from roughly $300 million last year.
  • The funding was led by Sequoia and Andreessen Horowitz with participation from Paradigm, CapitalG, Coinbase Ventures, General Catalyst, and Spark Capital.
  • Sports products, notably parlay-style contracts, have driven recent growth and pressured incumbents such as DraftKings and FanDuel.
  • Distribution has expanded through integrations with Robinhood and Webull, and the platform accepts bitcoin and other crypto deposits via ZeroHash.
  • Competition has intensified as Polymarket disclosed a prospective investment of up to $2 billion from Intercontinental Exchange and a route back into the U.S., while state lawsuits contest Kalshi’s sports markets.