Kalshi, the U.S.-regulated prediction market, has raised $300 million in new funding at a valuation of $5 billion, The New York Times reported on Oct. 10.
Founded by Tarek Mansour and Luana Lopes Lara in 2018, Kalshi is regulated by the Commodity Futures Trading Commission (CFTC). It allows users to trade the outcomes of events like federal policy, box office results, etc.
Kalshi's sports-based contracts, including complex parlays, have catapulted the platform to the frontier of the prediction market. So far, it has pursued a compliance-first strategy so that it doesn't fall foul of the authorities.
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A rival of the world's largest prediction market Polymarket which lets users buy orders with cryptocurrencies, Kalshi has attracted not only institutional traders but also crypto-native traders over the years.
Leading players from both Wall Street and decentralized finance led the Series D funding round at Kalshi in August.
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Sequoia
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Andreessen Horowitz (a16z)
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Paradigm
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Coinbase Ventures, the venture capital arm of the largest U.S. crypto exchange Coinbase (Nasdaq: COIN)
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CapitalG
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General Catalyst
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Spark Capital
Kalshi is now also available in over 140 countries.
"Tarek and Luana chose the difficult but more responsible path of becoming the first CFTC regulated prediction market, and their breadth of markets, liquidity, and infrastructure are built for scale." said Alex Immerman, partner on a16z's Growth Fund. "Kalshi has the opportunity to capture what may become the largest and most important financial market."
More News:
Polymarket raises $2B at $9B valuation
Only recently, Polymarket announced raising up to $2 billion from the New York Stock Exchange parent, the Intercontinental Exchange, Inc. (NYSE:ICE), at a post-money valuation of $9 billion.
Founded by Shayne Coplan in 2020, Polymarket is a prediction market similar to Kalshi except that it accepts crypto payments. The latest investment round turned Coplan into the world's youngest self-made billionaire at 27.
This story was originally reported by TheStreet on Oct 10, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.
