kalshi Surges to $5 Billion Valuation with $300 Million Fundraise
Kalshi, a New York-based prediction market exchange, has secured a massive $300 million in new funding. This investment has propelled its valuation to an impressive $5 billion. The funding round, led by prominent investors like Sequoia Capital and Andreessen Horowitz, marks a notable milestone for the platform.
Since its last funding round in June, Kalshi’s valuation has doubled. This rapid growth underscores its dominance in the prediction market space. Kalshi now holds over 60% of the global market share and is on track to achieve $50 billion in annualized trading volume.
The platform’s success is attributed to its innovative parlay-style contracts, which have attracted a surge of users. Kalshi has also integrated its event contracts into popular retail brokerages like Robinhood and Webull, making it easier for users to speculate on real-world outcomes.
Kalshi plans to expand its reach into more than 140 countries, transforming from a U.S.-only exchange to a global player. This move comes at a time when interest in real-world betting is on the rise.
While Kalshi focuses on retail accessibility and global expansion, its rival, Polymarket, is partnering with the Intercontinental Exchange. This collaboration aims to institutionalize Polymarket’s data, granting exclusive rights to distribute crowd-sourced probability data to hedge funds and asset managers.
Both Kalshi and Polymarket have faced regulatory challenges in the past. However, recent legal victories have paved the way for their continued growth. The U.S. Commodity futures Trading Commission recently dropped its legal challenge against Kalshi’s election betting business.
