Kalshi is raising an additional $200 million, expanding a funding round that had already brought in $1 billion, according to Bloomberg. The new financing is being completed at the same $22 billion valuation established earlier this month during the company’s massive Series F raise, signaling continued investor confidence in the fast-growing prediction market platform despite broader volatility across fintech and crypto-related markets.
The latest extension round is expected to include first-time investor Baillie Gifford, the global investment firm known for backing high-growth technology companies. Layer Global, the investment firm led by Anton Levy, is also reportedly in discussions to participate in the financing, although Bloomberg noted that no final commitment has been confirmed. The additional capital would further strengthen Kalshi’s balance sheet as the company accelerates expansion across trading products, infrastructure, and regulatory initiatives.
Earlier this month, Kalshi announced its $1 billion Series F financing led by Coatue Management. The round also drew participation from several major institutional and technology investors, including Sequoia Capital, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, and ARK Invest. The financing was among the largest capital raises in the fintech sector this year and pushed Kalshi’s valuation into the upper tier of private financial technology companies globally.
The company has experienced explosive growth over the past year. Kalshi’s annualized revenue run rate has now surpassed $1.5 billion, reflecting surging demand for event-driven trading products and increasing mainstream adoption of prediction markets among both retail and institutional traders. The platform has benefited from rising user engagement, particularly around political, economic, and sports-related contracts.
Founded in 2018 by Tarek Mansour and Luana Lopes Lara, Kalshi operates a federally regulated prediction market exchange that allows users to trade contracts tied to the outcomes of real-world events. Users can buy and sell positions on questions ranging from elections and economic indicators to weather events, entertainment outcomes, and sporting events. The company is regulated by the U.S. Commodity Futures Trading Commission, giving it a unique position within the rapidly evolving online trading and forecasting market.
Kalshi’s profile expanded significantly following a court ruling that permitted the company to offer contracts tied to the 2024 U.S. presidential election. The decision marked a major regulatory milestone for the prediction market industry and opened the door for broader participation in political event trading. Trading volumes surged following the ruling, helping drive a sharp increase in revenue and user growth.
More recently, sports-related contracts have emerged as one of the platform’s fastest-growing categories. Kalshi has capitalized on increasing consumer interest in alternative sports trading products, attracting users seeking event-based financial exposure outside traditional sports betting platforms. The growth of sports contracts has helped diversify trading activity on the exchange and contributed to the company’s broader push into mainstream consumer finance markets.
The additional funding is expected to give Kalshi more resources to invest in technology infrastructure, compliance systems, product development, and international expansion opportunities as competition intensifies in the event-contract and prediction market sector.
