Kalshi Raises $300M, Expands Prediction Market Access to 140 Countries

Prediction markets are gaining traction as people look for ways to bet on politics, sports, and world events.

Kalshi, one of the sector’s most established players, has unveiled a major funding round and a global expansion plan that highlights just how far the industry has come in just a few years.

Funding boost and investor backing

Kalshi disclosed that it has raised over $300 million in fresh funding at a $5 billion valuation. The round, led by venture capital heavyweights including Sequoia Capital and Andreessen Horowitz, also saw participation from Paradigm, CapitalG, and Coinbase Ventures.

This comes just months after the firm’s previous round, shows the speed at which its valuation has more than doubled. The timing is quite notable.

The announcement landed the same week rival Polymarket revealed a potential $2 billion investment from Intercontinental Exchange, the parent company of the New York Stock Exchange.

Together, these developments suggest prediction markets are evolving into a major force in both finance and entertainment.

According to the New York Times, Kalshi is now on track to process roughly $50 billion in annualized trading volume, up dramatically from $300 million the year prior.

Data from Dune Analytics also shows Kalshi overtook Polymarket to capture over 60% of the global prediction market share last month, driven largely by growth in sports-related contracts and the introduction of complex products like parlays.

Expansion and regulatory scrutiny

Until now, Kalshi has operated exclusively in the United States. That changes with its new global initiative, which will make the platform accessible to users in more than 140 countries.

Partnerships with retail brokerages such as Robinhood and Webull have also boosted its reach, allowing users to trade prediction contracts as easily as stocks.

Despite this momentum, regulatory challenges remain.

While the U.S. Commodity Futures Trading Commission recently dropped its legal challenge against Kalshi’s election contracts, several state regulators are scrutinizing its sports offerings, arguing they resemble unlicensed gambling.

“Every time there’s a new type of financial innovation, there’s always a series of questions around regulation,” CEO Tarek Mansour said, adding that the fact that they are questions suggests something “meaningful” or “innovative enough” is being done.

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