Published on: October 10, 2025, 03:21h.
Updated on: October 10, 2025, 03:21h.
- Kalshi Secures $300 Million in Series D Financing, Boosting Its Valuation to $5 Billion
- Funding Will Support Global Expansion for the Prediction Markets Leader
- Company Claims Title of Fastest-Growing Tech Firm Not Focused on AI
Kalshi, a renowned player in the prediction market sector, announced today the successful completion of a $300 million Series D funding round, elevating its market valuation to $5 billion.
Previously, in June, Kalshi raised $185 million in a Series C round, achieving a valuation of $2 billion, indicating a remarkable 2.5x growth in just four months. Speculations regarding an expansion to $5 billion had been circulating prior to today’s announcement.
This funding round, attributing a $5 billion valuation to Kalshi, was co-led by notable investors Andreessen Horowitz (a16z) and Sequoia Capital, with substantial contributions from Paradigm. Other prominent supporters include Coinbase Ventures, General Catalyst, Spark Capital, and CapitalG,” as stated in the company’s announcement.
Founded in 2018, Kalshi, which translates to “everything” in Arabic, was established by Luana Lopes Lara, now the COO, alongside Tarek Mansour, the current CEO.
Kalshi’s Global Ambitions
The announcement of Kalshi’s funding and heightened valuation coincided with news that Intercontinental Exchange (NYSE: ICE), which owns the New York Stock Exchange, has acquired a $2 billion stake in Polymarket, Kalshi’s closest rival, valuing them at up to $10 billion.
Currently, Polymarket is awaiting the end of a US government shutdown to re-enter the market, indicating that most of its activity has been in international domains. This situation provides an opportunity for Kalshi, which has unveiled ambitious plans for expansion beyond the US.
Kalshi is now accessible to users in over 140 nations for the first time, offering participants globally a cohesive liquidity pool. This international reach is expected to enhance liquidity in less active markets while further amplifying Kalshi’s increasing trading volume.
“Prediction markets hold global significance. Events don’t recognize borders, and neither should trading associated with them. Users across different continents can now trade on outcomes that impact their realities, be it elections, decisions by central banks, sports events, or climate developments,” remarked Kalshi.
Kalshi: A Trailblazer in Non-AI Tech Growth
The prediction market titan highlighted that the recent funding round was significantly oversubscribed, attracting interest from a variety of influential figures in Silicon Valley and Wall Street. They also proclaimed their status as the fastest-growing tech firm outside of the AI sector.
“Kalshi is now one of the most rapidly expanding technology companies in the United States and the quickest among non-AI firms. In just one year, our trading volume has escalated by 200 times, and our user base has surged by 20 times. Presently, Kalshi represents over 60% of the global prediction-market landscape, despite its previous limitations to US markets,” the company stated.
Achieving a valuation of $5 billion categorizes Kalshi as a unicorn—a privately-held enterprise valued at no less than $1 billion—but it still has a considerable journey ahead to join the ranks of the top 20 unicorns, necessitating a tripling of its valuation to reach that milestone.