Kalshi raises $300 million Series D, hitting $5B valuation and expansion

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Stacks of coins increasing in height beneath the word Kalshi on a green background, symbolizing growth and financial success. Kalshi raises $300 million Series D, hitting $5B valuation and expansion

Kalshi has introduced that it raised greater than $300 million in a Sequence D funding spherical at a $5 billion valuation. The spherical was led by Sequoia and Andreessen Horowitz (a16z), with sturdy participation from returning investor Paradigm. Different backers embody CapitalG, Coinbase Ventures, Common Catalyst, and Spark Capital.

The information is available in the identical week that Polymarket, Kalshi’s important competitor, revealed that Intercontinental Change (ICE), the father or mother firm of the New York Inventory Change, plans to invest up to $2 billion in its platform.

Even so, Kalshi has now pulled forward of Polymarket to turn into the most important participant within the prediction market area, holding greater than 60% of world market share, in response to knowledge from Dune.

Kalshi just lately raised $300M+ at $5B from Sequoia, a16z, Paradigm and others.

Since then, we've grown over 3x, hit $50B of annualized quantity, and have become the most important prediction market on this planet.

And at this time…Kalshi goes international.

140+ nations. 1 liquidity pool. pic.twitter.com/Z2myzRw9bA

— Tarek Mansour (@mansourtarek_) October 10, 2025

The spherical was really raised in August, and since then, Kalshi has expanded its attain to greater than 140 nations. The transfer successfully created the world’s solely unified international prediction market and opened the door to billions of potential new customers. Individuals outdoors the US will now reportedly have the ability to use Kalshi by way of its web site with the identical expertise as American prospects.

Sequence D funding may push Kalshi into the mainstream

In a press release shared with ReadWrite, Alfred Lin, companion at Sequoia and a member of Kalshi’s board, stated: “Tarek and Luana’s daring imaginative and prescient to make prediction markets mainstream initially drew us to companion with Kalshi in 2020.

“Since then, they’ve constructed a category-defining firm that represents the way forward for how markets democratize data. We’re excited to deepen our partnership as Kalshi redefines what it means to have an opinion in regards to the future.”

The CFTC-regulated alternate hit a significant milestone with greater than $1 billion traded on its platform, pushing its annualized buying and selling quantity above $50 billion. In September, Kalshi captured nearly all of international prediction market quantity, an enormous leap from simply 2% a 12 months earlier, particularly spectacular given it solely operated in a single nation on the time.

“Kalshi has emerged because the main prediction market platform, and we’re thrilled to again them,” stated Alex Immerman, companion on a16z’s Development Fund.

“Tarek and Luana selected the troublesome however extra accountable path of changing into the primary CFTC regulated prediction market, and their breadth of markets, liquidity, and infrastructure are constructed for scale. Kalshi has the chance to seize what might turn into the most important and most vital monetary market.”

Following the announcement, DraftKings stock dipped 0.75% and Flutter dropped 3%.

Featured picture: Kalshi

The publish Kalshi raises $300 million Series D, hitting $5B valuation and expansion appeared first on ReadWrite.

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