Kalshi Stock
| Valuation | $40B1 |
| Valuation Date | Aug 25, 2026 |
| Implied Valuation | $43.5B |
| Last Price | $760.77 |
| 52-Week High | $768.92 |
| 52-Week Low | $45.83 |
| YTD Return | +124.07% |
| 1-Year Return | +1,559.98% |
| 3-Year Return | n/a |
| Total Funding | $3.28B1 |
| Latest Round Amount | $749.99M1 |
| 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 Hiive.
Hiive 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 HiiveStock Analysis may be compensated for user sign-ups through Hiive links. Hiive is not affiliated with Stock Analysis. Securities offered by Hiive Markets Limited, member of FINRA/SIPC.
Related Companies
News
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.
Prediction Markets and States Clashed, Setting Off a Furious Political Battle
A legal dispute over the future of Kalshi, Polymarket and others has drawn in the Trump administration, the president's son and nearly every state attorney general.
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 traders see low likelihood of major crypto bill becoming law this year
The Digital Asset Market Clarity Act, which was passed with bipartisan support in the House in July 2025, is set for a procedural vote in the Senate on Sept. 15. The Clarity Act would spell out a regu...
Kalshi Asks SEC to Slow Product Launches From Rival Cboe
Prediction market Kalshi reportedly wants federal regulators to delay products from rival Cboe Global Markets. That's according to a report Tuesday (Aug. 25) from Bloomberg News, which calls this the ...
Crypto's biggest rally since 2023: With Bitcoin price at a high, here's what history, Ray Dalio, and Kalshi predict comes next
Crypto is having an extended three-day rally, and it looks a lot like what happened back in 2023, according to at least one analyst.
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...
Kalshi traders think the bitcoin rally could end the year near current levels
Bitcoin has rallied ferociously this week after the U.S. Treasury intervened to stop a sell-off in bonds and industry leaders and regulators rallied at the White House to put pressure on Congress to a...
Kalshi Readies Perpetual Futures Tied to Stock Indexes
Traders on the platform will be able to take leveraged long or short positions on stock indexes.
Kalshi seeks to launch ‘perps' on equity indexes as it moves in on traditional exchanges' turf
Prediction market platform Kalshi is continuing its expansion into perpetual futures, or "perps," with a new regulatory filing revealing its seeking approval to launch contracts tied to equity indexes...
Regulators and banks step up scrutiny of prediction markets
The Commodity Futures Trading Commission is reviewing prediction betting platforms' so-called mention markets, people familiar with the matter confirmed to CNBC. In response, prediction market Kalshi ...
Kalshi Says It Does Not Operate Like a Sports Book
Kalshi and other prediction markets are coming under more pressure from multiple states and regulators. New York City and New York State are both investigating the exchange.
Kalshi ordered to shut down sports and election prediction markets in Washington state by Sept. 2
A Seattle judge ordered Kalshi to geofence Washington users out of its sports, elections and entertainment markets by Sept.
Goat herding hedge: How Susquehanna and Kalshi are helping this company offset a change in California law
A California wage exemption for goat herders expired on June 30, which could lead to a sudden spike in labor costs for companies like Western Grazers. Tim Arrowsmith, owner of Western Grazers, feared ...
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...
NYC Council launches probe of Kalshi, Polymarket over ‘deceptive' marketing practices
The New York City Council is investigating prediction markets Polymarket, Kalshi, Coinbase and Gemini Titan for alleged deceptive marketing and targeting underaged users.
CFTC Issues Emergency Order to Kalshi to Keep Operating Despite NY Lawsuit
The Commodity Futures Trading Commission has invoked its emergency authority to order prediction market Kalshi to continue operating despite a lawsuit by New York seeking to shut down its event contra...
This Jeopardy! Champion Is Leading Kalshi's Perpetual Futures Business
Jeff Bandman is returning to Kalshi after a two-year hiatus to run Kalshi Prime. The company is developing perpetual futures for gold, silver, and platinum.
New York City Council announces probe into prediction market platforms' marketing strategies
New York City Council is investigating the marketing practices of prediction market platforms, Council Speaker Julie Menin's office said on Wednesday. Three of the four platforms being probed – Kalshi...
New York City Launches Sweeping Investigation Into Polymarket and Kalshi
The probe targets the marketing practices of four prediction markets with operations in the city.
Flight-Tracking Platform Sues Kalshi Over Flight Cancellation Prediction Markets
FlightAware says such markets could incentivize unsafe tactics to impact cancellations and creates the potential for disruption to air travel.
FlightAware sues Kalshi over flight cancellation prediction markets
The real-time flight tracker FlightAware is suing the prediction market Kalshi for allegedly using its data to host gambling markets.
FlightAware sues Kalshi over flight-cancellation markets
Flight-tracking service FlightAware is suing prediction markets giant Kalshi accusing the company of using its data and name to run "gambling markets on flight cancellations" without permission.
Kalshi brings in former U.S. solicitor general as Washington state gambling case escalates
Kalshi is still operating in Washington nearly three weeks after a Seattle judge granted the state a preliminary injunction against the prediction market platform.
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.