Kalshi Raises $300 Million at a $5 Billion Valuation

Kalshi is a federally regulated exchange that provides an institutional-grade platform for event contracts, allowing users to trade directly on the outcome of future events. The company's goal is to establish event contracts as a new, accessible asset class for trading on economic indicators, political outcomes, and other real-world developments within a regulated marketplace.

Kalshi has raised $300 million in a new Series D funding round, bringing the company valuation to $5 billion. The funding round saw participation from Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG, and Coinbase Ventures.

Kalshi, headquartered in New York, New York, United States, was founded in 2018 by Luana Lopes Lara and Tarek Mansour. In June 2025, the company joined the unicorn club. “The new investment will allow us to scale our infrastructure and integrate with leading services in the digital asset space. We plan to launch on all major apps within the year, expanding distribution beyond our current partnerships with Robinhood and Webull,” said John Van, head of the crypto division at Kalshi.