Kalshi hits $5 billion valuation amid international expansion

In June, Kalshi announced its Series C funding at a $2 billion valuation, solidifying prediction markets’ place in the financial mainstream. Now, just over three months later, we begin the next chapter focused on cementing event trading as a fixture of global finance alongside stocks, bonds, and other derivatives.

Today marks two major milestones: a $300 million Series D funding round and Kalshi’s international expansion.

This latest round, which values Kalshi at $5 billion, was co-led by Andreessen Horowitz (a16z) and Sequoia Capital, with significant participation from Paradigm. Additional backers include Coinbase Ventures, General Catalyst, Spark Capital, and CapitalG. It also paves the way for Kalshi’s global expansion, opening the platform to traders outside the U.S., and creating a truly unified prediction market.

For the first time, Kalshi is available to users around the world under a global model that supports participation from over 140 countries.

This expansion will create a single, unified liquidity pool for prediction markets, a structure that is unique to Kalshi.

While other platforms operate with fragmented, region-specific markets, Kalshi’s global exchange connects traders worldwide to the same set of events, deepening liquidity and price discovery across every market.

Prediction markets have always had worldwide relevance. Events don’t stop at borders, and now, neither does trading on them. Whether it’s elections, central bank decisions, sports, or climate, users across continents can trade directly on the outcomes that shape their world.

Kalshi has become one of the fastest-growing technology companies in the United States, and the fastest-growing company outside of the AI industry. In the past year alone, trading volume has grown 200× and the user base has grown 20×. Kalshi now accounts for over 60 percent of global prediction-market activity, despite previously being confined to the U.S.

Investors have noticed. The Series D was massively oversubscribed, with demand from nearly every major firm in Silicon Valley and on Wall Street.

Prediction markets have evolved from a niche experiment into a full-fledged financial asset class. In all financial markets, including stocks, bonds, and commodities, prices move based on events in the real world. Only prediction markets let people trade directly on those events. That’s the fundamental shift that will make them one of the largest asset classes in the world.

Kalshi’s regulated prediction-market exchange combines Wall Street-grade reliability with Silicon Valley speed to create a next-generation CME for the 21st century.

With this funding and global expansion, we’re continuing to:

If you believe in the potential of prediction markets, we hope you’ll join us.

Click here to start trading. Click here to see open roles.