The prediction platform Kalshi secured $300 million following a Series D funding round led by Andreessen Horowitz and Sequoia Capital.
The company’s valuation has reached $5 billion.
According to the press release, venture firm Paradigm took a “significant part” in the investments. Other participants in the round included Coinbase Ventures, General Catalyst, Spark Capital, and CapitalG.
“This [funding] paves the way for Kalshi’s global expansion, opening the platform to traders outside the US and creating a truly unified prediction market,” the statement said.
Kalshi noted that they have opened platform access to users from more than 140 countries. The funds raised have enabled the creation of a unified liquidity pool, connecting “traders worldwide.”
The company’s immediate plans include creating new types of prediction markets, integrating with more institutional structures, and scaling infrastructure.
Kalshi Maintains Market Leadership
In September, Kalshi displaced its main competitor, Polymarket, from the leading position in the segment. The platform’s share in the global trading volume of the prediction market exceeded 60%.
According to the dashboard on Dune, Kalshi is increasing its dominance. Over the past week, trading volume exceeded $956 million, more than double that of Polymarket.
Kalshi operates in the US as a platform regulated by the Commodity Futures Trading Commission (CFTC).
Polymarket is preparing to return to the country after several years of legal operations exclusively outside its borders. In July, the company acquired the regulated derivatives exchange QCEX for $112 million.
In the same month, Polymarket’s founder and CEO Shane Coplan confirmed the US Department of Justice’s termination of its investigation into the platform. The CFTC also withdrew previously raised claims.
According to experts, Kalshi’s success is largely due to its focus on sports event betting. This sector has become one of the fastest-growing in the United States since the Supreme Court lifted the federal ban on such practices in 2018.
In May, Kalshi reached a settlement with the CFTC. The conflict arose in 2024 when the regulator challenged the launch of prediction markets for the November elections on the platform. As a result, both parties dropped their claims, bearing their own legal costs.
As reported by the media, Polymarket is considering raising additional funding, which would bring the platform’s valuation to $9 billion.