Kalshi, a regulated prediction-market exchange turning real-world events into a new financial asset class, has raised $1 billion in Series E funding at an $11 billion valuation. The round was led by Paradigm, with participation from Sequoia, Andreessen Horowitz, Meritech Capital, IVP, ARK Invest, Anthos Capital, CapitalG, and Y Combinator.
Founded in 2018, Kalshi has rapidly become the category-defining platform for event trading, driving a broader shift among consumers from passive news consumption to active market participation. Weekly trading activity now exceeds $1 billion, up more than 1,000% since 2024, with millions of users engaging across more than 3,500 markets spanning politics, economics, culture, and real-world outcomes.
The company’s accuracy and liquidity have made Kalshi a go-to source for real-time event forecasting across media, Wall Street, and Main Street — even calling the NYC mayoral race eight minutes after polls closed, hours before traditional outlets.
With the new capital, Kalshi plans to accelerate its march toward 100 million users, deepen brokerage integrations, expand partnerships with news organizations, and broaden its suite of event-based financial products.
Investors say the company is unlocking one of the largest untapped categories in modern finance — a future in which markets, not pundits, determine what’s likely to happen next.
KEY QUOTES
“Kalshi is replacing debate, subjectivity, and talk with markets, accuracy, and truth. We have created a new way of consuming and engaging with information. It’s hard to have an opinion about the future today without thinking about Kalshi.”
Tarek Mansour, Co-Founder & CEO of Kalshi
“Kalshi’s exponential growth shows the scale of latent demand for prediction markets as a new asset class—from institutions to everyday people. We see this as an uncapped cultural and economic phenomenon, similar to how we felt about crypto a decade ago.”
Matt Huang, Co-Founder and Managing Partner at Paradigm
