Key Moments:
- Kalshi reported expansion to over 140 countries and secured more than $300 million in Series D funding
- The company’s latest funding round values it at $5 billion, more than double its previous $2 billion valuation in June
- Kalshi’s platform achieved more than $1 billion in trading volume in a single week, pushing annualized volume over $50 billion
Massive Funding Round and Global Reach
Kalshi has revealed its expansion to over 140 countries, bolstered by over $300 million in new Series D capital. The funding round, co-led by Sequoia and Andreessen Horowitz, has brought Kalshi’s valuation to $5 billion. This increase more than doubles its $2 billion valuation announced in June. Additional backing came from Paradigm, CapitalG, Coinbase Ventures, General Catalyst, and Spark Capital.
Market Growth and Volume Milestones
The company operates regulated prediction markets, allowing users to trade contracts on events from elections and sports outcomes to central bank announcements. Kalshi stated it now represents more than 60% of global prediction-market activity, despite previously limiting access to the United States.
According to the company, “This week, Kalshi set a new record in trading volume, with over $1 billion traded on the platform, bringing Kalshi’s annualized volume above $50 billion.” The firm has reported tripling its size, reaching $50 billion in annualized volume, and claiming the position as the world’s largest prediction market.
Global Liquidity and Market Structure
Kalshi said it now maintains a single global liquidity pool, bringing together U.S. and international participants in the same marketplaces, and described this model as a sector first. The company stated, “in September, Kalshi captured the majority share of global prediction market volume despite only operating in a single country, a rapid rise from a 2% share just one year ago.”
A spokesperson indicated that users based in restricted countries, such as the United Kingdom, can continue to access their accounts if previously verified and “while traveling or temporarily located elsewhere,” according to InGame reporting.
Industry Response and Investment Partner Perspective
Kalshi’s accelerated expansion has had an impact on the shares of publicly traded U.S. sportsbooks. FanDuel experienced a 3% decline, while DraftKings dropped by 0.75% following the news.
Sequoia partner Alfred Lin commented: “Tarek and Luana’s bold vision to make prediction markets mainstream initially drew us to partner with Kalshi in 2020,” Lin said. “Since then, they’ve built a category-defining company that represents the future of how markets democratize information. We’re excited to deepen our partnership as Kalshi redefines what it means to have an opinion about the future.”
Acceleration and Industry Evolution
Kalshi described itself as among the United States’ fastest-growing technology firms, and the fastest outside the artificial intelligence space. According to the company, prediction markets “have grown from a niche experiment into a full-fledged financial asset class,” and they are currently the only markets where individuals can trade directly on outcomes of real-world events.
| Metric | Value |
|---|---|
| Countries Available | 140+ |
| Latest Valuation | $5 billion |
| Recent Funding Round | $300 million+ |
| Annualized Trading Volume | $50 billion |
| Weekly Trading Volume Record | $1 billion |
| Previous Valuation (June) | $2 billion |
- Author
Daniel Williams
