Kalshi, a U.S.-licensed prediction market supervised by the Commodity Futures Trading Commission (CFTC), has secured $300 million in fresh capital, bringing its valuation to $5 billion, The New York Times reported. The news highlights the rapid ascent of prediction markets from niche financial experiments to global investment-grade platforms attracting major institutional capital. Prediction Markets Enter the Spotlight Once a curiosity on the fringes of finance, prediction markets are now attracting millions of users wagering on everything from politics and sports to entertainment and global events. Kalshi, one of the most prominent names in the sector, said it plans to open its platform to customers in more than 140 countries, expanding far beyond its U.S. base. The company’s fundraising announcement comes the same week as Polymarket, its chief rival, revealed that Intercontinental Exchange (ICE) — parent company of the New York Stock Exchange — intends to invest up to $2 billion in its platform. Explosive Growth and Investor Backing Kalshi is also on pace to record $50 billion in annualized trading volume, a sharp increase from about $300 million last year, according to data from Dune. The platform now commands more than 60% of global prediction-market activity, recently surpassing Polymarket. “We did not expect this level of growth,” said Tarek Mansour, Kalshi’s co-founder and CEO. The surge has attracted heavyweight venture capital investors, including Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG, and Coinbase Ventures. The new round, negotiated just two months after its previous one, more than doubled Kalshi’s valuation. Sports Bets and Retail Access Drive Expansion Kalshi’s entry into sports wagering — including complex bets known as parlays — has shaken up the traditional sports betting landscape. Shares of DraftKings and FanDuel’s parent company have both declined double digits amid concerns over competition. Additionally, Kalshi’s partnerships with Robinhood and Webull have allowed users to trade prediction contracts as seamlessly as they buy stocks, deepening mainstream adoption. Regulatory Questions Loom Despite CFTC approval, Kalshi faces pushback from U.S. state regulators who argue its sports-related contracts resemble unlicensed gambling. Lawsuits have been filed in several states where online sports betting remains illegal. Mansour remains confident, saying, “Every time there’s a new type of financial innovation, there’s always a series of questions around regulation. If there weren’t questions, what you’re doing is probably not meaningful or innovative enough.” As Kalshi’s global reach expands, its battle to balance innovation with compliance may define the future of the regulated prediction market industryKalshi, a U.S.-licensed prediction market supervised by the Commodity Futures Trading Commission (CFTC), has secured $300 million in fresh capital, bringing its valuation to $5 billion, The New York Times reported. The news highlights the rapid ascent of prediction markets from niche financial experiments to global investment-grade platforms attracting major institutional capital. Prediction Markets Enter the Spotlight Once a curiosity on the fringes of finance, prediction markets are now attracting millions of users wagering on everything from politics and sports to entertainment and global events. Kalshi, one of the most prominent names in the sector, said it plans to open its platform to customers in more than 140 countries, expanding far beyond its U.S. base. The company’s fundraising announcement comes the same week as Polymarket, its chief rival, revealed that Intercontinental Exchange (ICE) — parent company of the New York Stock Exchange — intends to invest up to $2 billion in its platform. Explosive Growth and Investor Backing Kalshi is also on pace to record $50 billion in annualized trading volume, a sharp increase from about $300 million last year, according to data from Dune. The platform now commands more than 60% of global prediction-market activity, recently surpassing Polymarket. “We did not expect this level of growth,” said Tarek Mansour, Kalshi’s co-founder and CEO. The surge has attracted heavyweight venture capital investors, including Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG, and Coinbase Ventures. The new round, negotiated just two months after its previous one, more than doubled Kalshi’s valuation. Sports Bets and Retail Access Drive Expansion Kalshi’s entry into sports wagering — including complex bets known as parlays — has shaken up the traditional sports betting landscape. Shares of DraftKings and FanDuel’s parent company have both declined double digits amid concerns over competition. Additionally, Kalshi’s partnerships with Robinhood and Webull have allowed users to trade prediction contracts as seamlessly as they buy stocks, deepening mainstream adoption. Regulatory Questions Loom Despite CFTC approval, Kalshi faces pushback from U.S. state regulators who argue its sports-related contracts resemble unlicensed gambling. Lawsuits have been filed in several states where online sports betting remains illegal. Mansour remains confident, saying, “Every time there’s a new type of financial innovation, there’s always a series of questions around regulation. If there weren’t questions, what you’re doing is probably not meaningful or innovative enough.” As Kalshi’s global reach expands, its battle to balance innovation with compliance may define the future of the regulated prediction market industry

Kalshi Raises $300M at $5B Valuation Under CFTC Oversight

2025/10/10 21:54
3 min di lettura
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Kalshi, a U.S.-licensed prediction market supervised by the Commodity Futures Trading Commission (CFTC), has secured $300 million in fresh capital, bringing its valuation to $5 billion, The New York Times reported.

The news highlights the rapid ascent of prediction markets from niche financial experiments to global investment-grade platforms attracting major institutional capital.

Prediction Markets Enter the Spotlight

Once a curiosity on the fringes of finance, prediction markets are now attracting millions of users wagering on everything from politics and sports to entertainment and global events.

Kalshi, one of the most prominent names in the sector, said it plans to open its platform to customers in more than 140 countries, expanding far beyond its U.S. base.

The company’s fundraising announcement comes the same week as Polymarket, its chief rival, revealed that Intercontinental Exchange (ICE) — parent company of the New York Stock Exchange — intends to invest up to $2 billion in its platform.

Explosive Growth and Investor Backing

Kalshi is also on pace to record $50 billion in annualized trading volume, a sharp increase from about $300 million last year, according to data from Dune. The platform now commands more than 60% of global prediction-market activity, recently surpassing Polymarket.

“We did not expect this level of growth,” said Tarek Mansour, Kalshi’s co-founder and CEO. The surge has attracted heavyweight venture capital investors, including Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG, and Coinbase Ventures. The new round, negotiated just two months after its previous one, more than doubled Kalshi’s valuation.

Sports Bets and Retail Access Drive Expansion

Kalshi’s entry into sports wagering — including complex bets known as parlays — has shaken up the traditional sports betting landscape. Shares of DraftKings and FanDuel’s parent company have both declined double digits amid concerns over competition.

Additionally, Kalshi’s partnerships with Robinhood and Webull have allowed users to trade prediction contracts as seamlessly as they buy stocks, deepening mainstream adoption.

Regulatory Questions Loom

Despite CFTC approval, Kalshi faces pushback from U.S. state regulators who argue its sports-related contracts resemble unlicensed gambling. Lawsuits have been filed in several states where online sports betting remains illegal.

Mansour remains confident, saying, “Every time there’s a new type of financial innovation, there’s always a series of questions around regulation. If there weren’t questions, what you’re doing is probably not meaningful or innovative enough.”

As Kalshi’s global reach expands, its battle to balance innovation with compliance may define the future of the regulated prediction market industry.

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