Prediction market platform Kalshi has raised $300 million in a Series D funding round led by Sequoia Capital and Andreessen Horowitz (a16z), valuing the company at around $5 billion, more than double its valuation just four months ago.
Other investors in the round include Paradigm, CapitalG, Coinbase Ventures, General Catalyst, and Spark Capital.
The raise coincides with Kalshi’s largest expansion yet the company has gone global, activating access in over 140 countries and branding itself as “the world’s only unified global prediction market.” For the first time, users outside the United States can trade on the same event markets as U.S. participants.
While still unavailable in 38 jurisdictions including the UK, Canada, France, and Australia Kalshi’s rollout covers markets such as Ireland and New Zealand, where regulatory frameworks are more predictable.
The company’s growth trajectory has been extraordinary. Kalshi recently surpassed $1 billion in monthly trading volume, pushing its annualised total above $50 billion, according to Dune Analytics.
Investors believe Kalshi’s decision to secure CFTC regulation early has positioned it for long-term scalability. “They’ve built a category-defining company that represents the future of how markets democratise information,” said Sequoia’s Alfred Lin.
The Series D comes amid heightened interest in event trading platforms, following Polymarket’s $2B deal with ICE, valued at $9 billion. Together, these moves mark the growing institutional recognition of prediction markets as a legitimate financial frontier.
Backed by $300 million and a global footprint, Kalshi is now poised to turn speculation into a new class of investment trading not on what has happened, but on what might.
