Kalshi Launches Global Growth Initiative with Fresh $300 Million Funding

Kalshi, a prediction marketplace based in the United States, has successfully closed another significant funding round, aiming to expand its platform to over 100 countries globally.

The company announced on Friday that it has completed a Series D funding round exceeding $300 million, spearheaded by Sequoia Capital and Andreessen Horowitz (a16z), with additional participation from Paradigm.

Kalshi stated that its platform is now accessible in more than 140 countries, claiming to be the “world’s only unified global prediction market,” which instantly opens up billions of new potential customers.

This latest funding of $300 million follows a previous $185 million funding round completed in June, also led by Paradigm and involving Sequoia.

$5 billion valuation

Kalshi’s Series D funding has escalated the company’s valuation to $5 billion, an increase of $3 billion since its last funding round in June.

In addition to Sequoia, a16z, and Paradigm, the round attracted new investors, including CapitalG, Coinbase Ventures, General Catalyst, and Spark Capital.

Following this funding milestone, Kalshi announced its expansion into international markets with immediate launches in several new regions.

According to the company, “International users can now access the platform via the Kalshi website with an identical product experience to American users.”

38 countries are restricted

When contacted by Cointelegraph, Kalshi did not immediately specify the markets where it is expanding, referencing a member agreement that lists 38 restricted jurisdictions.

Among these restricted nations are Canada, France, Poland, Russia, Singapore, Taiwan, Thailand, the United Kingdom, Venezuela, and others.

“Kalshi has emerged as the leading prediction market platform, and we’re thrilled to back them,” commented a16z’s Growth Fund partner Alex Immerman.

Related: Kalshi ‘ready to defend’ prediction markets amid Massachusetts lawsuit

“Tarek and Luana opted for the challenging yet responsible route of becoming the first CFTC-regulated prediction market, and their breadth of markets, liquidity, and infrastructure are designed for scalability,” he noted, emphasizing the platform’s potential to evolve into “the largest and most important financial market.”

Kalshi’s announcement signifies another milestone in the burgeoning trend of prediction markets, coinciding with its major competitor, Polymarket, securing $2 billion in investments from NYSE owner Intercontinental Exchange on Tuesday. This strategic investment resulted in Polymarket’s post-money valuation rising to $9 billion.