Street Calls of the Week
Investing.com -- Prediction market platform Kalshi announced a Series D funding round of over $300 million at a $5 billion valuation, led by Sequoia and Andreessen Horowitz (a16z), with significant participation from returning investor Paradigm.
The funding round, which closed in August, also included investments from CapitalG, Coinbase Ventures, General Catalyst, and Spark Capital.
Kalshi has expanded its operations to over 140 countries, creating what it calls the world’s only unified global prediction market. International users can now access the platform via the Kalshi website with an identical product experience to American users.
Alfred Lin, partner at Sequoia and Kalshi board member, said: "Tarek and Luana’s bold vision to make prediction markets mainstream initially drew us to partner with Kalshi in 2020. Since then, they’ve built a category-defining company that represents the future of how markets democratize information."
This week, Kalshi set a new record in trading volume, with over $1 billion traded on the platform, bringing its annualized volume above $50 billion. In September, Kalshi captured the majority share of global prediction market volume despite only operating in a single country at that time, growing from just 2% market share one year ago.
Alex Immerman, partner on a16z’s Growth Fund, said: "Kalshi has emerged as the leading prediction market platform, and we’re thrilled to back them. Tarek and Luana chose the difficult but more responsible path of becoming the first CFTC regulated prediction market."
Kalshi is a CFTC-regulated exchange and prediction market where users can trade on the outcome of real-world events, including elections, economic indicators, political developments, and sports. The platform currently serves millions of users.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.