Kalshi has revealed its expansion into over 140 countries and secured over $300 million in new investment, as the U.S.-based prediction marketplace aims to create a unified global platform for trading on future occurrences.
The Series D funding round, co-led by renowned venture capitalists Sequoia and Andreessen Horowitz, has placed Kalshi’s valuation at $5 billion, doubling the $2 billion valuation announced in June. Other backers comprise Paradigm, CapitalG, Coinbase Ventures, General Catalyst, and Spark Capital.
Kalshi, known for providing regulated markets that enable users to trade contracts related to various outcomes, including elections, sports, and central bank decisions, reports that it now captures over 60% of the worldwide prediction-market trade, even though it was previously only accessible in the U.S.
“This week, Kalshi achieved a record trading volume, exceeding $1 billion on its platform, pushing its annualized volume past the $50 billion mark,” the company announced.
Kalshi has raised over $300M at a valuation of $5B from Sequoia, a16z, Paradigm, and others.
We have since tripled our growth, reached an annualized volume of $50B, and become the largest prediction market globally.
And today…Kalshi goes global.
140+ countries. 1 liquidity pool. pic.twitter.com/Z2myzRw9bA
— Tarek Mansour (@mansourtarek_) October 10, 2025
Furthermore, “in September, Kalshi seized the majority share of global prediction market activity despite previously being operational in just one country, a remarkable increase from a mere 2% share last year.”
The firm indicated that it now functions under a singular global liquidity pool, linking U.S. and international users to identical markets, which it deems an uncommon setup in the industry.
A company representative clarified that users in restricted regions like the United Kingdom can still access their accounts if they have been previously verified and “while traveling or temporarily residing in other locations,” as noted by InGame.
Kalshi’s rapid expansion has unsettled publicly traded U.S. sportsbooks, resulting in a decline in their share prices. FanDuel saw a 3% drop, while DraftKings fell by 0.75%.
Alfred Lin, a partner at Sequoia, commended co-founders Tarek Mansour and Luana Lopes Lara for their instrumental role in propelling the company’s growth.
“Tarek and Luana’s audacious vision to popularize prediction markets initially attracted us to Kalshi in 2020,” Lin stated. “They have since crafted a category-defining company, representing the evolution of how markets can democratize information. We look forward to deepening our collaboration as Kalshi reshapes the perception of future projections.”
Kalshi self-identifies as one of the quickest-growing tech enterprises in the U.S., second only to the artificial intelligence sector.
The evolution of prediction markets has transitioned from a niche concept to a fully-fledged financial asset class, as declared by the company, which notes that these markets are the only ones permitting individuals to trade based on actual events.