Kalshi Raises $300 Million, Targets Global Expansion Amid Surging Prediction Market Growth

In Brief

• Kalshi secures $300M in Series D funding, reaching a $5 billion market valuation.
• The platform expands globally, launching in over 140 countries outside the U.S.
• Kalshi overtakes Polymarket with 66% share in global prediction market transactions.

Prediction market platform Kalshi has secured $300 million in Series D funding, boosting its valuation to $5 billion. The company now plans to expand operations into more than 140 countries while maintaining its U.S.-based regulatory framework.

The funding round included major investors such as Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG, Coinbase Ventures, and General Catalyst. This capital injection follows Kalshi’s $185 million Series C raise earlier this year, when the platform was valued at $2 billion.

Kalshi has grown rapidly since launching in 2021, processing over $10.5 billion in notional volume, according to Dune Analytics. In September alone, the company claimed 66% of the global prediction market share, overtaking its decentralised rival Polymarket.

The company’s rise is largely attributed to its growing suite of sports-based prediction contracts and retail-friendly trading tools. While regulatory scrutiny has increased, Kalshi continues to emphasise its CFTC-regulated structure as a long-term advantage.

Platform Growth Accelerates as Rival Polymarket Prepares U.S. Reentry

Kalshi’s platform is now projected to reach $50 billion in annualised trading volume, reflecting exponential month-over-month user growth. Its interface supports identical features for both domestic and international users, though regional restrictions remain in place.

Despite expansion, Kalshi still faces challenges in 38 jurisdictions, including Canada, the UK, and Singapore, per its user agreement. Legal pressure continues as several U.S. states pursue cases over its sports-related offerings, citing gambling laws.

Meanwhile, Polymarket has announced a $2 billion investment from Intercontinental Exchange, raising its valuation to $9 billion. The move positions Polymarket for a U.S. comeback after a 2022 ban from the Commodity Futures Trading Commission.

Kalshi, however, maintains its lead with deeper fintech integrations, including access through Robinhood and Webull. Crypto head John Wang noted Kalshi’s goal is to appear on “every major crypto app” within a year.

With new capital and growing market share, Kalshi aims to solidify its position as the leading regulated global prediction platform. Its next phase hinges on international adoption and how competitors respond in a fast-evolving sector.