Kalshi Valued at $5B After Series D, Expands Globally
Kalshi, a fintech platform for trading "event contracts," has expanded its prediction markets to over 140 countries after raising $300 million in a Series D funding round.
- The Series D was led by Sequoia and a16z, with participation from Paradigm, Coinbase Ventures, General Catalyst, CapitalG, Spark, Kevin Hart, Kevin Durant, Rich Kleiman, Mantis, and Kevin Yorn.
- Kalshi's valuation reached $5 billion, up from $2 billion since its Series C in June.
- Trading volume increased 200X, and the user base grew 20X over the last year.
- Kalshi accounts for over 60% of global prediction market activity, previously operating only in the US.
The company navigated regulatory challenges with the US Commodity Futures Trading Commission (CFTC) amid attempts to ban contracts on sensitive issues. Changes in CFTC leadership have occurred, and further appointments are under consideration.