Kalshi to expand globally after reaching $5bn valuation

Prediction markets giant Kalshi has announced its expansion to more than 140 countries. 

The development follows a recent $300m funding round led by Sequoia Capital and a16z, which brought the company’s valuation to around $5bn. 

This is not the first time Sequoia has backed the company as it previously was part of another funding round that had valued Kalshi at approximately $2bn.

The platform enables users to trade “event contracts,” instruments that let participants take positions on whether specific real-world outcomes will occur. These range from economic indicators to political or cultural developments.

According to the company, annualized trading volume has surpassed $50bn, positioning Kalshi as one of the most active operators in its category. 

However, the company’s regulatory environment remains complex. The Nevada Gaming Control Board recently requested documentation following a court filing related to Kalshi’s operations.

The sector has also seen growing competition as Polymarket CEO Shayne Coplan criticized Kalshi’s approach, describing it as a “copycat” of decentralized models. 

Good to know: Earlier this year, Kalshi published implied odds on a potential engagement between Taylor Swift and Travis Kelce

Approved by the US Commodity Futures Trading Commission (CFTC), Kalshi’s model sits at the intersection of prediction markets and traditional financial derivatives, aiming to standardize how such events are priced and traded.

Meanwhile, Kalshi maintains that its CFTC oversight provides legal clarity and investor protection that many rivals lack.

The new international rollout will introduce a single liquidity pool connecting users across multiple jurisdictions.

Carlos Mendez

Writer

Odds tell a story long before the result does. When bettors learn to read that story properly, betting becomes a matter of discipline and value rather than emotion or guesswork.

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