Kalshi Raises $300M at $5B Valuation, Expands Prediction Markets Globally to 140 Countries

Online prediction market platform Kalshi has secured over $300 million in funding at a $5 billion valuation, signaling prediction markets' entry into financial mainstream according to New York Times reporting. The platform announces major international expansion, enabling users across 140+ countries to participate in prediction markets. Kalshi projects staggering growth with $50 billion annualized trading volume anticipated this year, a massive increase from $300 million last year, capturing over 60% global market share and surpassing competitor Polymarket. The investment round featured leading venture capital firms including Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG, and Coinbase Ventures. Market expansion has been fueled by sports betting products, particularly parlays, creating competitive pressure on established sportsbooks like DraftKings (DKNG) and FanDuel. Kalshi has enhanced accessibility through integrations with trading platforms Robinhood (HOOD) and Webull (BULL). Despite regulatory progress with CFTC approval, Kalshi faces legal challenges from multiple states alleging sports betting law violations.