Latest funding rounds comes as annualized trading volume surpasses $1 trillion across prediction markets, commodities, crypto, and perpetual futures
Kalshi has announced a $1 billion Series G funding round that values the financial exchange platform at $40 billion.
The company will use the capital to grow the exchange, develop new assets, and expand access around the world, with a particular focus on Latin America and Europe.
This includes accelerating the company’s prediction market growth, growing institutional adoption, launching new products such as indices, single-stock perpetual futures, and compute markets.
The latest funding round has been co-led by Wellington Management and Sequoia Capital, alongside ten other co-investors, including Baillie Gifford, Stripes, Andreessen Horowitz, Coatue, Layer Global, and Morgan Stanley Investment Management.
Kalshi said that the funding accelerates its long-term vision to build the next-generation financial exchange.
“The forces shaping our lives are constantly changing,” said Kalshi. “Elections reshape industries. Interest rates affect the cost of a home. Weather determines a harvest. Advances in AI change the demand for energy and compute.
“Financial markets should help people make sense of these forces and manage their exposure to them. Too often, doing so requires finding an imperfect proxy or accessing sophisticated products available to a small set of institutions. We founded Kalshi with a simple belief: the ability to price uncertainty and trade on the future should be available to everyone.
“Prediction markets were our starting point. They made it possible to turn a question about the world into a tradable market, with a price that reflects what people think will happen. They remain central to our mission, and they’ve built the foundation for a much broader exchange.”
Kalshi now has over $1 billion in non-sports annualized revenue and its overall annualized trading volume now exceeds $1 trillion, with over 30 million registered Kalshi accounts.
The company said that sports brought millions of people to Kalshi and helped establish deep liquidity. Kalshi is now extending those network effects into politics, crypto, economics, commodities and perpetual futures.
Kalshi said that its Commodities business is currently generating more than $100 million in annualized trading fees in just three months, while Crypto trading volume has reached $140 billion annualized and Politics trading volume has reached over $8 billion annualized.
“One year after launching in more than 140 countries, our international retail business is approaching $100 million in annualized trading fees,” said Kalshi. “Since launch a few months ago, our perpetual futures business has reached $83 billion in trading volume and over 500,000 traders.
“As more participants join, they bring liquidity that makes the exchange more useful for everyone. That liquidity supports new markets, attracts new participants, and expands the range of products we can offer. This is how we’re building a diversified financial exchange with prediction markets at its foundation.”