Kalshi has secured $300 million in its latest funding round as the company expands its event trading platform to international markets for the first time.
Looking to cement event trading as a fixture of global finance alongside stocks, bonds and other derivatives, the Series D funding round values Kalshi at $5 billion. This is more than double Kalshi’s valuation of $2 billion in June after a Series C funding round.
The latest funding round was co-led by Californian venture capital firms Andreessen Horowitz (a16z) and Sequoia Capital, with significant participation from Paradigm, a research-driven crypto investment firm. Additional backers include Coinbase Ventures, General Catalyst, Spark Capital and CapitalG.
The funding paves the way for Kalshi to open its prediction markets platform to traders outside the United States and made available to users from over 140 countries under a global model.
“This expansion will create a single, unified liquidity pool for prediction markets, a structure that is unique to Kalshi,” said the company. “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.”
In the past year, Kalshi’s trading volume has grown by more than 200 times, and the user base has grown 20 times.
With the recent funding and global expansion, Kalshi plans to continue to expand liquidity and market depth, launch new market types and structures, and integrate with more brokerages and institutions.