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Kalshi Valued at $40B in Massive Funding Round
29 Oct
Summary
- Kalshi secured $1 billion in new funding, reaching a $40 billion valuation.
- The startup is expanding beyond event contracts to a multi-asset trading platform.
- This move positions Kalshi against major traditional exchanges like CME Group.
Kalshi has achieved a significant milestone, raising $1 billion in a new funding round that values the company at $40 billion. This substantial investment fuels Kalshi's strategic expansion beyond its origins in event-based prediction markets.
The New York-based company is actively transforming into a multi-asset trading platform. This ambitious pivot introduces Kalshi as a direct competitor to established giants like CME Group and Intercontinental Exchange.
This latest financing follows a previous $1 billion round just over five months ago, which valued Kalshi at $22 billion. The recent funding has boosted its valuation by nearly 82%.
Kalshi's expansion includes perpetual futures, approved by the Commodity Futures Trading Commission in 2026. These derivatives, with no expiry date, are available for cryptocurrencies, equity indexes, and metals.
Despite its growth, Kalshi faces criticism that its products resemble gambling. Additionally, Utah's attorney general recently filed criminal charges against the company for allegedly promoting illegal online gambling.
