It’s been more than three years since we announced our last round of funding. In that time, Kalshi has transformed from a niche curiosity into one of the fastest-growing financial platforms in America. That's why today, I’m excited to share that we’ve raised $185 million in Series C funding at a $2 billion valuation.
This round was led by leading crypto VC Paradigm, with participation from Sequoian, Multicoin, Neo, BOND capital, Citadel Securities CEO Peng Zhao, and several other investors who believe deeply in the mission. It's a vote of confidence in what this product and this community can become.
More importantly, it’s a sign that prediction markets, and the event contacts that power them, are no longer just a fringe experiment. They’re a safe, credible, liquid asset class, and Kalshi is leading the way.
Why we raised
Today isn’t about money.
Just kidding. It’s literally all about the money.
But it’s not the full story. Money isn’t the end goal. It’s a means to an end.
Today is also about the team of Kalshians who’ve turned what once sounded like science fiction into regulated, high-functioning financial infrastructure, and made what once seemed impossible now look inevitable. The capital we’ve raised will go a long way toward helping this team accelerate the next phase of our mission: to make prediction markets as commonplace as trading on stocks.
With this funding, we are:
scaling up engineering and infrastructure
integrating with more brokerages
expanding liquidity
and last but not least, building a verity of new market structures that make Kalshi even more powerful for our users
Prediction markets are powerful. They can make the future more knowable, finance more honest, and authority figures more accountable. But until Kalshi, they lacked infrastructure, trust, legality, and usability. We’ve built, and will continue to build, all four, and the world is starting to catch on.
What’s next
Via X
We’re only 1% of the way there.
In the coming months, we’ll be:
Launching new market types and structures
Partnering with more brokerages and financial institutions
Entering new verticals
Expanding access for institutions and pros
Expand the high performing team we have assembled across every department
Our goal is to make Kalshi the next iteration of financial markets, and a platform that redefines what it means to have an opinion about the future, one of the most basic human instincts.
I want to thank our investors—especially Paradigm, who have now made only their third investment outside of crypto (the others being Stripe and Citadel)—for their belief in what we’re building.
More importantly, we want to thank you – without you, we are nothing. You are making the age-old prediction market dream a reality, one trade at a time. I hope you join us in celebrating this win and we hope to make you proud (and happy!) with this extra ammunition.
As Paradigm co-founder and Managing Partner Matt Huang put it, “Prediction markets remind me of crypto 15 years ago: a new asset class on a path to trillions.”
We believe that too.
May your day be eventful,
Tarek
If you have any product feedback, reach out to me directly - we have a long way to go in terms of improving the product and I would love to hear from you.
If you’re also someone who believes in the amazing potential of prediction markets, we hope you’ll join us.
Click here to start trading.Click here to see open roles.