Kalshi Raises $300M, Expands Prediction Markets Globally to 140 Countries
Kalshi, an online prediction market, has raised over $300 million, reaching a $5 billion valuation. The company plans to expand its services to users in over 140 countries. Kalshi expects $50 billion in annualized trading volume this year, a significant increase from last year's $300 million, capturing more than 60% of the global market share and surpassing rivals like Polymarket.
- Funding was led by investors such as Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG, and Coinbase Ventures.
- Growth is fueled by sports betting, especially parlays, challenging sportsbooks like DraftKings and FanDuel Group.
- Kalshi has collaborated with platforms like Robinhood and Webull for enhanced accessibility in event trading.
- The company faces regulatory challenges despite clearing a hurdle with the U.S. CFTC, with lawsuits from various U.S. states about sports betting laws.