Kalshi Raises $300M at $5B Valuation, Expands Prediction Markets to 140 Countries: NYT

Online prediction market Kalshi has raised more than $300 million at a $5 billion valuation as prediction markets move into the financial mainstream, according to a report by the New York Times on ￰0￱ company will now allow users in over 140 countries to place bets, marking its first major international expansion, the article ￰1￱ projects $50 billion in annualized trading volume this year, up from $300 million last year, and now holds more than 60% of global market share, surpassing rival ￰2￱ funding round was led by major investors including Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG, and Coinbase Ventures, the New York Times ￰3￱ has been driven by sports betting, particularly parlays, putting pressure on sportsbooks like DraftKings (DKNG) and FanDuel Group, the report ￰4￱ has also integrated with platforms like Robinhood (HOOD) and Webull (BULL) to make event trading more accessible.

Still, regulatory scrutiny remains a challenge, the article ￰5￱ clearing a federal hurdle with the ￰6￱ Futures Trading Commission (CFTC) earlier this year, Kalshi now faces lawsuits from several ￰7￱ accusing it of skirting sports betting ￰8￱ more: Massachusetts State Attorney General Alleges Kalshi Violating Sports Gambling Laws