Kalshi
About Kalshi
Kalshi is a Fintech startup based in New York, New York, United States that has raised $2.5B in venture capital across 6 funding rounds since 2018. The company reached Late Stage stage in January 2019 with a $0.15M round led by Y Combinator. Kalshi's investor base includes 13 institutional funds, with Y Combinator leading the most recent equity round.
Kalshi is a CFTC-regulated prediction market exchange that enables institutional and retail participants to trade event contracts on real-world outcomes across sports, politics, economics, and entertainment. Founded in 2018 by Tarek Mansour (CEO) and Luana Lopes Lara — MIT alumni who later worked as financial analysts — the company joined Y Combinator's Winter 2019 cohort and secured a CFTC Designated Contract Market (DCM) license in November 2020, becoming the first regulated prediction market exchange in the United States. After winning a landmark DC District Court ruling in 2024 that overturned the CFTC's attempt to block political event contracts, Kalshi relaunched election betting and saw explosive volume growth. The platform launched publicly in July 2021 and has since captured over 90% of U.S. prediction market activity, with sports betting generating the majority of revenue. Annualized trading volume tripled from $52 billion to $178 billion in six months through early 2026, while institutional trading volume surged 800% over the same period. In May 2026, Kalshi raised a $1 billion Series F led by Coatue at a $22 billion post-money valuation — its third funding round in seven months — bringing total disclosed funding to approximately $2.5 billion.
Kalshi Funding Rounds Timeline
6 rounds · $2.5B raised · since 2018
| Round | Date | Amount | Valuation | Lead investor | Co-investors |
|---|---|---|---|---|---|
| Pre-Seed (YC) | January 2019 | $0.15M | — | Y Combinator | — |
| Series A | February 2021 | $30M | — | Sequoia Capital | — |
| Series C | June 2025 | $185M | $2B | Paradigm | Sequoia Capital, Multicoin Capital, BOND |
| Series D | October 2025 | $300M | $5B | — | Andreessen Horowitz (a16z), Sequoia Capital |
| Series E | December 2025 | $1B | $11B | Paradigm | Sequoia Capital, Andreessen Horowitz (a16z), Meritech Capital, IVP, ARK Invest, Anthos Capital, CapitalG, Y Combinator |
| Series F | May 2026 | $1B | $22B | Coatue | Sequoia Capital, Andreessen Horowitz (a16z), IVP, Paradigm, Morgan Stanley, ARK Invest |
Investors in Kalshi
13 institutional investors across 6 rounds
Lead investors
Co-investors
Recent news about Kalshi
- FundingKalshi doubles valuation in 5 months, hitting $22BMay 2026
Questions about Kalshi
How much has Kalshi raised?
Kalshi has raised $2.5B across 6 funding rounds since 2018.
Who are the investors of Kalshi?
Kalshi's investors include Y Combinator, Sequoia Capital, Paradigm, Coatue, Multicoin Capital, BOND, Andreessen Horowitz (a16z), Meritech Capital, IVP, ARK Invest, Anthos Capital, CapitalG, Morgan Stanley.
When was Kalshi's last funding round?
Kalshi's most recent round was a $0.15M Pre-Seed (YC) in January 2019, led by Y Combinator.
What is Kalshi's valuation?
Kalshi reached a $22B valuation (unicorn status) with its Pre-Seed (YC) round in January 2019.
Where is Kalshi headquartered?
Kalshi is headquartered in New York, New York, United States, and was founded in 2018 by Tarek Mansour, Luana Lopes Lara.