Kalshi Stock
| Valuation | $40B1 |
| Valuation Date | Sep 17, 2026 |
| Implied Valuation | $50.34B |
| Last Price | $967.07 |
| 52-Week High | $972.43 |
| 52-Week Low | $80.13 |
| YTD Return | +184.83% |
| 1-Year Return | +1,106.88% |
| 3-Year Return | n/a |
| Total Funding | $3.75B1 |
| Latest Round Amount | $1.1B1 |
| Latest Round | Series G |
| Funding Rounds | 11 |
| IPO Status | Expected2 |
| Expected IPO Date | n/a |
| Revenue | $2B3 |
| Revenue Type | Run Rate |
| P/S Ratio | 20.0 |
About Kalshi
Kalshi is a prediction market and financial exchange where users can trade on the outcomes of real-world events. Its markets cover topics such as elections, sports, economic data, weather, entertainment, and financial markets. Users buy and sell event contracts that pay out based on whether a specified outcome occurs, with market prices reflecting the probability assigned by traders. Kalshi is regulated by the Commodity Futures Trading Commission (CFTC).
Invest in Kalshi
Kalshi is a private company, so you can't purchase it with a regular brokerage account. However, its shares are available on Clarity (formerly Hiive).
Clarity is a secondary marketplace where accredited investors can buy and sell shares of private, pre-IPO companies. Invest in the world's most exciting startups before they go public.
Invest on ClarityStock Analysis may be compensated for user sign-ups through Clarity links. Clarity is not affiliated with Stock Analysis. Securities offered by Clarity Capital Limited, member of FINRA/SIPC.
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News
The NFL is urging the Supreme Court to rule on prediction markets like Kalshi and Polymarket
The NFL is urging the Supreme Court to rule on the regulation of prediction markets after the league accounted for $1.8 billion in trading volume on the first Sunday of this season alone, arguing that...
Kalshi probes suspicious trades tied to Trump press secretary pick, WSJ reports
Prediction market Kalshi has launched an investigation into a series of suspicious trades on their platform about the selection of US President Donald Trump's new White House press secretary...
Kalshi Probes Bets on Trump's Pick for New White House Press Secretary
The prediction market is examining a series of trades that correctly predicted the appointment of Katie Zacharia, who wasn't previously seen as a front-runner.
Ties to Kalshi Throw Gambling Addiction Group Into Disarray
Kalshi donated $2 million to the National Council on Problem Gambling. Advocates rebelled.
Kalshi launches transparency features on its election contracts ahead of midterms
Kalshi is launching three features on its election contracts to provide traders with more transparency on how active its markets are. Kalshi's election markets will have a Brier score, which will meas...
Kalshi launches stock index perpetual future to expand product suite
Prediction market startup Kalshi launched a stock index perpetual future on Tuesday, broadening the reach of the nascent derivatives instrument as it looks to challenge traditional exchange operator...
Meet the Gen-Z High Rollers Dominating the Prediction Markets
Upstart trading firms loom large on platforms such as Kalshi and Polymarket. They are starting to raise capital.
Kalshi traders see high odds Anthropic's IPO is announced this year
Chances that the AI company announces an initial public offering before November jumped from 4.7% on Sept. 28 to 16% Wednesday afternoon.
Kalshi, Polymarket trading volumes on some products raises questions amid massive growth
A pattern on one of Kalshi's perpetual futures contracts and unusual low-odds volume on some of Polymarket's international exchange's contracts are raising questions about activity on products from th...
Tiger Global, Dragoneer in talks to invest in Kalshi's new $1 billion fundraise, sources say
Kalshi is in advanced discussions to raise about $1 billion in fresh funding from existing and new investors, including Tiger Global Management and Dragoneer Investment Group, according to people fam...
Rep. James Comer expands House investigation into prediction market insider trading
Rep. James Comer, R-Ky., the top Republican on the House Oversight and Government Reform Committee, expanded an investigation into insider trading on three prediction market platforms.
Appeals court rules that states can regulate Kalshi's sports prediction markets, dealing another legal blow to platforms
The 6th U.S. Circuit Court of Appeals ruled that Kalshi's sports-related event contracts can be regulated by Ohio and Tennessee's gambling laws on Friday. It's the second decision by a federal court o...
Kalshi dealt major blow as appeals court rules states can regulate prediction markets
The 6th US Circuit Court of Appeals said Kalshi has not shown that its sports event contracts are "swaps" that should be regulated by the Commodity Futures Trading Commission.
US appeals court rules against Kalshi, says states can regulate prediction markets
A US appeals court on Friday ruled against the prediction markets operator Kalshi, saying states can regulate its so-called event contracts under their gambling laws.
Inside Kalshi CEO Tarek Mansour's testy relationship with Indian casinos — and how it could pose an existential threat: ‘Lying little twerp'
Kalshi's dicey relationship with Native American casinos went south after CEO Tarek Mansour held unsuccessful talks to mend differences with tribal leaders – resulting in a flurry of lawsuit.
Kalshi draws backlash after a creator accuses it of ripping off his video — and changing his race
Kalshi has drawn backlash after a creator accused it of ripping off his video for an ad — and changing his race. Kalshi said it has curtailed its use of AI ads and is reviewing its relationship with i...
Kalshi's Embrace of Sports Betting Tests Rules for Prediction Markets
Judges have reached conflicting decisions on whether the platform is evading state laws, setting up a potential Supreme Court showdown.
New York sues Polymarket U.S., two months after filing lawsuit against Kalshi
The lawsuit claims Polymarket operates an illegal gambling platform and is violating state gambling laws, and not licensed by the New York State Gaming Commission. "By skirting New York's laws, Polyma...
$5 Billion Flurry of Nearly Identical Kalshi Trades Draws Scrutiny
The rapid trades—all at nearly $5,500—occurred in a single Kalshi market. The prediction market says the trades represent normal activity.
Kalshi asks CFTC to allow margin trading on its platform, letting users buy with borrowed funds
Kalshi is seeking approval from federal regulators to allow some traders to use leverage on its prediction markets. If approved, only certain traders will have access to marginable event contracts, th...
US appeals court blocks Kalshi from offering event contracts on Native American lands
A federal appeals court blocked Kalshi on Wednesday from offering sports event contracts on the lands of two California tribes, handing the largest U.S. prediction markets platform its second legal ...
Kalshi Partners with US Hispanic Chamber of Commerce and Greater Washington Hispanic Chamber to Bring Next-Gen Risk Management to Latino-Owned Business
NEW YORK--(BUSINESS WIRE)--Kalshi, the next-generation financial exchange, today announced a partnership with the United States Hispanic Chamber of Commerce (USHCC), America's largest small business a...
Prediction Markets Hit Trading Record With NFL Season Underway
Kalshi dominated a record weekend for prediction markets as NFL trading surged, while DraftKings gained ground and sportsbooks found another way to profit.
Stork Market Data Launches for Traders With Kalshi Distribution License
NEW YORK--(BUSINESS WIRE)--Stork, the leading price oracle for onchain perpetual futures, has launched a market data suite, supporting trading firms with tick- and user-level data from prediction mark...
Kalshi and Polymarket Aren't Public. You Still Buy Them Through an ETF.
A handful of funds have pre-IPO exposure to Kalshi and Polymarket. Investors need to tread cautiously.
Betting on the NFL With Kalshi? You Might Be Trading Against FanDuel.
In many Kalshi trades, customers are going up against the proverbial house. One of those houses is FanDuel, the popular U.S. sportsbook.
How Minnesota Became the Front Line in the Fight Over Prediction Markets
The state was the first to pass a law banning Kalshi and Polymarket. A lawsuit filed by a federal agency may set a precedent on who gets to regulate them.
Kalshi Looks to Expand a Rapidly Growing Universe of Risky Trading
A platform known for prediction markets has seen perpetual futures surge in popularity.
Kalshi Gets CFTC OK to List Precious Metals Futures
Kalshi obtained regulatory permission to list precious metals-related perpetual futures on its platform, CNBC reported Thursday (Sept. 10). The Commodity Futures Trading Commission, which oversees der...
Kalshi launches ‘perps' for gold and silver following CFTC approval, expanding futures offerings
Kalshi has received approval for and launched perpetual futures on precious metals gold and silver, the company told CNBC exclusively. The prediction market platform first received approval to launch ...
ION and Coinbase expand Kalshi event-contract clearing
ION partnered with Coinbase to support event-contract clearing for Kalshi through ION's XTP platform, letting FCMs connect Kalshi into existing workflows.
Kalshi's $400 million-plus monthly commodity trade volume outpaces early crypto growth
Prediction market startup Kalshi said on Tuesday monthly commodities trading volume on its platform was four times that of cryptocurrency at the same point, seven months after launch.
Catalist Sports and Kalshi announce exclusive multi-sport content partnership
Kalshi signed a multi-year deal giving it exclusive US prediction-market access to Catalist Sports live streams and low-latency data for international sports events.
Kalshi Jumps Into the Debt Projection Game
Prediction-market platform Kalshi released a 10-year debt-to-gross-domestic-product projection built on real-time, crowdsourced data.
Kalshi Won't Take Bets on Supreme Court Case Threatening Its Business. Polymarket Might.
The leading American prediction market has drawn a line in the sand.
People under 21 can't use most sportsbooks — so they've wagered over $5 billion on Kalshi instead
A new American Gaming Association analysis finds underage sports betting is flourishing on prediction markets.
SCOTUS should weigh in on predictions markets, says New Jersey AG who wants to shut down sites like Kalshi, Polymarket
New Jersey is asking the Supreme Court to weigh in for the first time on regulation of prediction markets like Kalshi and Polymarket -- potentially paving the way for the Garden State to shut them dow...
New Jersey asks the Supreme Court to take on prediction markets
The state of New Jersey asked the Supreme Court to take up a dispute that could determine which regulator has oversight over prediction markets and sports-related event contracts. In April, the 3rd U....
U.S. Supreme Court Is Asked to Settle Growing Debate Around Prediction Markets
The high court could soon determine the fate of sports betting in the U.S.
Prediction market Kalshi to file for US crude oil 'perps', source says
Kalshi is preparing to file a perpetual West Texas Intermediate crude oil contract with U.S. regulators, a source familiar with the matter said, expanding the prediction market startup's offerings be...
Kalshi bans ex-Congressman George Santos for life over insider trading
The online prediction market platform Kalshi said Monday that it has permanently banned former U.S. Rep. George Santos after concluding the former Republican congressman likely engaged in insider trad...
Kalshi partners with Alpaca to expand prediction markets internationally
Kalshi partnered with brokerage infrastructure provider Alpaca to distribute event contracts through Alpaca's API-first platform as it expands internationally.
Kalshi bans George Santos for life over State of the Union bets
Kalshi has banned former Republican Rep. George Santos from its platform for life, the first time the prediction market company has taken such an action.
Kalshi slaps scandal-ridden George Santos with first-ever lifetime ban over shady bet
Kalshi said Monday that it has slapped scandal-ridden former Rep. George Santos with its first-ever lifetime ban after he allegedly made more than $17,000 in illicit bets on the prediction market.
Kalshi permanently bans former GOP Rep. George Santos over illegal trading
The prediction market platform Kalshi issued former GOP Rep. George Santos a lifetime ban after he allegedly traded on whether he would attend this year's State of the Union address.
Alpaca Partners with Kalshi to Expand Prediction Market Access Through Its Global Brokerage Infrastructure
NEW YORK--(BUSINESS WIRE)--Alpaca partners with Kalshi to expand prediction market access through its global brokerage infrastructure.
Kalshi partners with brokerage Alpaca as it tries to build its international audience
Kalshi is looking to expand its international business through a partnership with brokerage and financial infrastructure startup Alpaca. Alpaca, which reaches more than 14 million brokerage accounts g...
Kalshi named first-ever prediction market partner of the US Open
Kalshi announced a multi-year partnership with the USTA to become the exclusive prediction market partner of the US Open beginning with the 2026 tournament, including on-court signage and a joint inte...
Prediction Markets Should Be Regulated as Gambling, Appeals Court Says
The outcome contradicted an earlier appeals court decision. Federal regulators said the split rulings called for resolution by the Supreme Court.
U.S. appeals court rules against prediction markets, sets up likely fight at Supreme Court
Prediction market platforms were dealt a blow in their legal battle with states across the country on Friday as the Ninth Circuit Court of Appeals ruled that sports-related event contracts are not "sw...
Kalshi cannot block Nevada oversight of sports prediction markets, US appeals court rules
A federal appeals court on Friday said Kalshi is not entitled to an injunction to block Nevada from overseeing its prediction markets platform, which allows people to bet on the outcome of sportin...
Connecticut Gov. Lamont on Kalshi lawsuit: Want them to play by the rules that protect young people
Connecticut Governor Ned Lamont joins 'The Exchange' to discuss the state's recent lawsuit against Kalshi, the recent Meta settlement and much more. Disclosure: CNBC and Kalshi have a commercial relat...
Donald Trump Jr. told Republican state attorneys not to fight prediction markets, NY Times reports
Speaking before a group of Republican state attorneys general in March, Donald Trump Jr. said that states were being misled by gambling companies that are worried they'll lose their “monopolies,” The ...
Kalshi and the Weather Co. Join Forces on Climate Trades
The trading platform is now getting input from experts that operate a leading weather app to verify increasingly popular climate-prediction markets.
Kalshi discloses $1.12B sold under $1.5B equity offering in SEC filing
Kalshi filed a Form D with the SEC showing $1.12 billion sold from a $1.5 billion equity offering that began in April, with 71 investors participating. A company spokesperson confirmed the filing rela...
Kalshi partners with iconic Major League Baseball brands
Kalshi announced brand partnerships with the Atlanta Braves, Boston Red Sox, Los Angeles Dodgers, San Diego Padres, and San Francisco Giants, including in-stadium signage and fan activations.
Kalshi strikes deals with five MLB teams, eyes a separate league partnership
Kalshi announced multi-year brand partnerships with the Atlanta Braves, Boston Red Sox, Los Angeles Dodgers, San Diego Padres, and San Francisco Giants, its first MLB team deals. The agreements includ...
Baltimore sues Kalshi and Polymarket for allegedly violating consumer protection laws
Baltimore filed suit against Kalshi and distribution partners including Robinhood, Webull, and Coinbase, alleging unlicensed sports wagering in the city; Kalshi called the case political theater.
Kalshi in talks with Sequoia, Wellington for $750 million fund raise at $40 billion valuation
CoinDesk relays The Information: Kalshi is in advanced talks with Sequoia and Wellington to raise at least $750 million at a $40 billion valuation. Company, Sequoia, and Wellington did not confirm; no...
Kalshi ties up with Nasdaq to bolster trade surveillance
Kalshi announced a multi-year partnership with Nasdaq Market Surveillance to enhance real-time monitoring of prediction markets and perpetual futures as regulatory scrutiny intensifies.
Kalshi ties up with Nasdaq to bolster trade surveillance
Kalshi announced a multi-year partnership to integrate Nasdaq Market Surveillance across its prediction markets and perpetual futures, adding real-time monitoring and CFTC-formatted trade reporting.
Kalshi Adopts Nasdaq Market Surveillance to Enhance Market Oversight
Kalshi announced a multi-year partnership with Nasdaq Market Surveillance on August 10, 2026 to enhance monitoring of its event contracts and perpetual futures markets.
Exclusive: Kalshi partners with Blanket to help small businesses hedge against risk
Kalshi partnered with Blanket on an AI tool atop its exchange that helps small businesses hedge operational risks such as bad weather or election shocks without hiring a Wall Street bank.
Talos Brings Prediction Markets Onto Institutional Trading Infrastructure
Talos announced an integration with Kalshi on July 22, 2026, allowing select institutional clients to trade Kalshi event contracts through existing digital-asset trading infrastructure.
Prediction markets here to stay, Kalshi CEO Mansour says
Kalshi CEO Tarek Mansour told an Axios event in Washington that prediction markets are "here to stay" despite growing political scrutiny, and defended the platform's regulation and insider-trading enf...
Meta considered buying Kalshi before developing its own prediction market app
NPR reports Mark Zuckerberg met with Kalshi CEO Tarek Mansour about a possible acquisition last year as prediction markets surged, but negotiations never advanced; Meta later struck a Threads integrat...
Kalshi CEO says company thinking about IPO, but not for this year
CEO Tarek Mansour told CNBC's Squawk Box that Kalshi is in the early stages of considering an initial public offering but will not go public in 2026. He declined to give a timeline beyond ruling out t...
Kalshi seeks funding at $40 billion valuation, widening lead over rival Polymarket
Kalshi is in talks to raise new capital at a roughly $40 billion valuation, nearly doubling the $22 billion it reached in May's $1 billion Series F, the Financial Times reported. The round could close...
Kalshi passes $2 billion in annualized revenue, in early IPO talks, according to The Information
Kalshi's annualized revenue has passed $2 billion, roughly triple its November 2025 level, driven by NBA playoff and FIFA World Cup trading volume. The company is also in early, informal discussions w...
Wealthsimple and Kalshi Partner to Bring Prediction Markets to Canada
Wealthsimple announced Wealthsimple Predict on June 18, 2026, a standalone app giving Canadian investors access to roughly 4,000 Kalshi event contracts in authorized categories.
Kalshi and the Argentina Football Association Announce Official Partnership for the 2026 FIFA World Cup
Kalshi announced an official sponsorship partnership with Argentina's national football federation for the 2026 FIFA World Cup, including co-branded activations and official Genius Sports data for mar...
Sportradar and Kalshi Announce Global Data Partnership for Prediction Markets
Sportradar signed a multi-year agreement to serve as an official data and solutions provider for Kalshi, delivering premium sports content across MLB, NHL, MLS, UFC and other major properties.
Kalshi Named Official Prediction Market Partner of Madison Square Garden
Kalshi and Madison Square Garden Entertainment announced a multi-year partnership naming Kalshi an official prediction market partner, including renaming MSG's sixth-floor concourse the Kalshi Concour...
FOX to Integrate Kalshi Forecasts Across FOX News Media and FOX One
Kalshi and Fox Corporation announced an integration to incorporate Kalshi prediction market data across FOX News Channel, FOX Business Network, FOX Weather and the FOX One streaming platform.