Kalshi valued at $5 billion as it expands to 140 countries, aims to globalise prediction markets
Summary
Kalshi has raised more than $300 million in a Series D round co-led by Sequoia and Andreessen Horowitz, taking the company’s valuation to $5 billion — over double the $2 billion valuation disclosed in June. The US-based prediction market says it now operates in more than 140 countries and claims to account for over 60% of global prediction-market activity despite previously being available only in the United States.
The firm reported a weekly trading record of more than $1 billion, pushing its annualised volume above $50 billion. Kalshi says it now runs a single global liquidity pool that connects US and international users to the same markets. The company also noted that users in restricted jurisdictions such as the UK who were already verified can still access their accounts under certain conditions. Publicly listed sportsbooks reacted negatively to the news, with shares such as FanDuel and DraftKings slipping after the announcement.
Key Points
- Raised over $300m in Series D funding co-led by Sequoia and Andreessen Horowitz, valuing Kalshi at $5bn.
- Expanded availability to 140+ countries while claiming over 60% share of global prediction-market volume.
- Recorded a weekly trading peak of >$1bn; annualised trading volume now exceeds $50bn.
- Operates a single global liquidity pool connecting US and international users to the same markets.
- Verified users in restricted jurisdictions (eg UK) may still access accounts when travelling or temporarily located elsewhere.
- Major backers include Paradigm, CapitalG, Coinbase Ventures, General Catalyst and Spark Capital.
- Growth has triggered stock drops at some public sportsbooks, highlighting competitive and market impacts.
Why should I read this?
Quick and blunt: if you follow betting, fintech or market data, this matters. Kalshi’s just taken big cash, gone global fast and is trying to turn prediction markets from a niche experiment into mainstream tradable markets. It’s a short read that tells you who might be disrupted (sportsbooks, market-data providers) and why regulators and investors will care.
Author style
Punchy: this is not just another funding story. The jump to a $5bn valuation plus rapid global expansion means Kalshi is shaping how people trade on real-world events — worth digging into if you track industry shifts, competitive threats or regulatory change.
Context and Relevance
Prediction markets have graduated to a recognised financial asset class, and Kalshi’s growth underlines wider trends: fintech platforms scaling rapidly, investor appetite for novel market infrastructure, and questions around cross-border access and regulation. For operators, investors and policy-makers, Kalshi’s move to globalise liquidity pools and capture market share is a sign of accelerating competition and potential regulatory scrutiny.