Kalshi raises $1B Series G at $40B valuation as annualized trading volume tops $1 trillion
Prediction market platform Kalshi closed a $1 billion Series G round at a $40 billion post-money valuation, co-led by Wellington and Sequoia, and says it will expand institutional offerings despite ongoing US regulatory pressure.
GamblingSource: GamblingNews
Kalshi, one of the leading prediction market platforms, has completed a $1 billion Series G funding round that values the company at $40 billion post-money. The company announced the deal on the Thursday before this report.
Wellington and Sequoia co-led the round. Other participants named by Kalshi include Baillie Gifford, Stripes, Andreessen Horowitz, Coatue, Layer Global, Morgan Stanley Investment Management, Sequoia Global Equities, CapitalG, Hudson River Trading and Balyasny Asset Management.
Kalshi said the raise comes as its annualized trading volume has passed $1 trillion. According to the company, the new capital will help it pursue its long-term vision and keep building what it describes as a next-generation financial exchange.
The firm argued that the prediction market model gives people a dependable way to make sense of a changing world. It pointed to event contracts linked to elections, interest rates and the cost of living as examples of products that individuals and institutions use to handle uncertainty. Kalshi said this fits its ambition to price uncertainty and let anyone trade on it.
Although prediction markets were its starting point, Kalshi said it is open to diversifying further, and the new funding will support that. It plans to invest in institutional sales, distribution and product development aimed at hedge funds, proprietary trading firms, financial institutions and other "sophisticated participants." To serve those clients, the company said, it needs reliable infrastructure, deeper liquidity and products designed around their requirements.
In its statement, Kalshi said its team is driven by a gap it sees daily: people face uncertainty that existing financial tools do not adequately address. Closing that gap, it said, means building new products, earning trust and making markets accessible and useful, and thinking in decades about what a financial exchange can become.
The funding milestone arrives while Kalshi remains caught up in regulatory disputes, amid a wider pushback against the prediction markets sector in the United States.
Based on reporting by GamblingNews.