- Prediction market platform Kalshi has secured $1 billion in a new funding round, according to people familiar with the matter.
- The deal values the company at approximately $11 billion, more than doubling its valuation from a Series D round last year.
- The capital infusion is earmarked for expanding product offerings and scaling operations amid a surge in user engagement with event-based contracts.
Kalshi, the event-driven trading platform, has closed a massive $1 billion funding round that values the company at roughly $11 billion, according to people with direct knowledge of the transaction. The raise, first reported by The New York Times, represents a significant step-change for the firm, which was valued at $5 billion in its October 2025 Series D round.
The fresh capital is expected to accelerate Kalshi's expansion beyond its core political and economic event contracts. People briefed on the company's plans said the funds will be directed toward developing new market categories, enhancing its technology infrastructure, and potentially exploring strategic acquisitions. The company's user base and trading volumes have seen a sharp uptick, particularly around major geopolitical events and economic data releases, driving investor confidence in its growth trajectory.
Efforts to reach Kalshi representatives for official comment were not immediately successful. The identities of the lead investors in this latest round were not disclosed by the sources, though they indicated it included a mix of existing backers and new institutional capital. The ability to secure funding of this magnitude in the current venture environment underscores a bullish outlook on the regulatory and commercial future of prediction markets.
Without this new capital, Kalshi would have faced constraints in its ambitious roadmap to become a mainstream financial platform. The company has been navigating a complex regulatory landscape, and this war chest provides it with substantial runway to both innovate and ensure compliance as it scales. The valuation jump suggests investors are betting heavily on the platform's unique positioning at the intersection of fintech, data, and entertainment.
Correction: An earlier version of this article misstated the timing of Kalshi's previous funding round. The Series D round, which valued the company at $5 billion, occurred in October 2025.