Kalshi Raises $300M at $5B Valuation to Expand Global Presence

TheCryptoTimesPublished on 2025-10-10Last updated on 2025-10-10

Kalshi, a U.S.-based prediction market, has raised $300 million in a Series D funding round that values the company at $5 billion. The firm is planning to expand its presence in global markets amid increased popularity of prediction markets.

As noted in a latest article from The New York Times, the funding round was led by Sequoia Capital and Andreessen Horowitz, with participation from investors including Paradigm, CapitalG, Coinbase Ventures, and Spark Capital.

Kalshi mentioned that it plans to use the fund to open its platform to customers in over 140 countries, far beyond the U.S walls so that people around the world can trade on real-world events such as politics, sports, and global news.

Moreover, Kalshi is on pace to reach $50 billion in annualized trading volume and now holds more than 60% of the global prediction market. In September, Kalshi passed its main rival, Polymarket, in trading activity, recording almost double its competitor’s volume, according to data from Dune.

Sports Betting Pushes Kalshi Ahead

Initially, sports betting has also played a major role in Kalshi’s growth. The U.S. market, which is now worth $13.7 billion, has flourished since the Supreme Court legalized sports betting in 2018. Kalshi has managed to tap into this demand by offering sports-related contracts, including complex bets known as parlays. This has helped it attract new users and increase trading numbers.

Dustin Gouker, a sports betting consultant, said many Robinhood users now trade directly through Kalshi, showing how mainstream prediction markets have become.

Crypto and Global Expansion on the Horizon

Meanwhile, the company is also moving into cryptocurrency through a partnership with ZeroHash to let users deposit cryptocurrencies on the platform.

“The next 10x unlock for us will be building new financial primitives for trading on Kalshi. And crypto, as this global financial layer, is honestly essential to fulfilling that vision.” John Wang, Kalshi’s newly hired crypto lead, said at Solana APEX. Wang also encouraged developers to pitch ideas from pushing data onchain to tokenizing positions on Kalshi.

The platform has also had its own fair share of regulatory issues when it faced legal scrutiny over its sports-related contracts in some U.S. states. However, the CFTC has cleared its election-related offerings.

Also Read: Coinbase CEO and Industry Leaders Slam Senate Democrats’ DeFi Proposal

Follow The Crypto Times on Google News to Stay Updated!

US Seizes Nearly $1B in Iranian Crypto Amid Economic Pressure Campaign

The United States has seized nearly $1 billion worth of Iranian cryptocurrency, Treasury Secretary Scott Bessent announced. He noted some wallet owners may be unaware their funds were confiscated. The action is part of "Operation Economic Fury," a U.S. financial pressure campaign against Iran launched in March 2025, which has also involved freezing bank accounts and seizing properties with European partners. Bessent stated that prior to U.S. intervention, the Iranian regime was allegedly diverting hundreds of millions monthly to a small elite. He described Iran's economy as severely strained, with food rationing, internet outages, and many military personnel going unpaid. The $1 billion seizure figure marks a significant increase from previous totals reported in April.

TheNewsCrypto7m ago

US Seizes Nearly $1B in Iranian Crypto Amid Economic Pressure Campaign

TheNewsCrypto7m ago

For the First Time, the U.S. Government Lifts Ban on Crypto Perpetual Contracts: What Does It Mean for the Market?

On May 29, the U.S. Commodity Futures Trading Commission (CFTC) issued guidance permitting 7*24 trading and clearing for crypto asset derivatives, effectively opening the U.S. market to crypto perpetual contracts for the first time. This move allows U.S. citizens and certain platforms to trade these instruments around the clock. Key beneficiaries include Kalshi, which received approval to list a Bitcoin perpetual contract; Coinbase, now the first CFTC-regulated Futures Commission Merchant (FCM) for U.S. clients; and CME, which will transition its Bitcoin futures and options to 7*24 trading. The CFTC emphasized that this is a tailored approach for crypto assets, requiring platforms to maintain compliance and risk assessments, while noting traditional commodities like agriculture may not be suitable for such hours. Industry leaders like Michael Saylor and Brian Armstrong praised the decision for bringing a major segment of the global crypto market to U.S. users. However, consumer advocacy group Better Markets criticized the CFTC, alleging it overlooked investor risks and acted in the industry's interest rather than the public's. Following the guidance, Kraken announced plans to launch CFTC-regulated perpetual futures in the U.S., signaling a potential surge in derivatives trading activity.

marsbit1h ago

For the First Time, the U.S. Government Lifts Ban on Crypto Perpetual Contracts: What Does It Mean for the Market?

marsbit1h ago

US Government Lifts Ban on Crypto Perpetual Contracts for the First Time: What Does It Mean for the Market?

The U.S. Commodity Futures Trading Commission (CFTC) has issued guidance permitting 24/7 trading and clearing for crypto asset derivatives, effectively opening the U.S. market to crypto perpetual contracts for the first time. This move ends the previous ban and allows American individuals and institutions to trade these instruments around the clock. Direct beneficiaries include Kalshi, which received approval to list a Bitcoin perpetual contract; Coinbase, now the first CFTC-regulated futures commission merchant for U.S. clients to access global crypto derivatives; and CME, which will transition its Bitcoin futures and options to 24/7 trading. The CFTC emphasized this is a specific allowance for crypto assets, noting that traditional commodities like agriculture may not be suitable for non-stop trading. It also requires platforms to undergo case-by-case reviews for compliance and risk management. Industry leaders like Michael Saylor and Brian Armstrong praised the decision for integrating Bitcoin into capital markets and granting U.S. users access to a major global market segment. However, consumer advocacy group Better Markets criticized the CFTC for allegedly neglecting investor protection and favoring the industry it regulates. Other platforms like Kraken have announced plans to launch regulated perpetual futures for the U.S. market. The policy shift is expected to redirect significant liquidity and institutional participation to the newly accessible U.S. crypto derivatives landscape.

Odaily星球日报1h ago

US Government Lifts Ban on Crypto Perpetual Contracts for the First Time: What Does It Mean for the Market?

Odaily星球日报1h ago

How the CLARITY Act Reshapes the Stablecoin Yield Economy

The CLARITY Act, recently advanced by the U.S. Senate Banking Committee, fundamentally reshapes the stablecoin yield economy by closing loopholes left by the earlier GENIUS Act. Its Section 404 expands the ban on "hold-to-earn" rewards to all Digital Asset Service Providers (DASPs) and their affiliates, prohibiting any passive, interest-like yield. Crucially, it introduces a legal distinction, permitting "use-to-earn" rewards based on actual activities like spending, trading, or staking. In anticipation of this regulatory shift, major Wall Street asset managers—Morgan Stanley, BlackRock, and JPMorgan—have launched a series of tokenized money market funds (e.g., BlackRock's BRSRV, JPMorgan's JLTXX) designed explicitly for stablecoin reserve assets. These products represent a new, compliant yield layer: the stablecoin issuer earns interest from the underlying tokenized fund, which can then be passed to users through redesigned activity-based rewards. This marks a paradigm shift from a "hold-to-earn" to a "use-to-earn" market. While pathways remain for exchanges to redesign rewards (Path A) and for DeFi protocols to offer yield (Path B), the tokenized reserve asset layer (Path C) emerges as the most robust and strategically positioned infrastructure. However, this concentration—exemplified by BlackRock's BUIDL fund backing over 90% of USDtb's reserves—introduces new systemic risks. The final outcome hinges on regulatory decisions, particularly the OCC's proposed 20% cap on tokenized assets in reserves, which will determine the scalability of this new financial infrastructure layer.

marsbit3h ago

How the CLARITY Act Reshapes the Stablecoin Yield Economy

marsbit3h ago

Weekly Token Unlocks: HYPE Unlocks $650M Worth of Tokens

Summary: Token Unlocks for the Week – HYPE Unlocks $650 Million Worth of Tokens Major token unlocks are scheduled for this week, headlined by Hyperliquid's significant release and a smaller unlock from EigenLayer. **Hyperliquid (HYPE)** * **Platform:** A high-performance blockchain aiming to create a fully on-chain, open financial system. * **Unlock Details:** 9.92 million HYPE tokens, valued at approximately $650 million. * **Project Links:** Twitter: https://x.com/HyperliquidX; Website: https://hyperfoundation.org/ **EigenLayer (EIGEN)** * **Protocol:** A protocol built on Ethereum that introduces restaking, allowing staked ETH to secure other applications. * **Unlock Details:** 36.86 million EIGEN tokens, valued at approximately $8.22 million. * **Project Links:** Twitter: https://x.com/eigenlayer; Website: https://www.eigenlayer.xyz/ Both projects have provided specific token release schedules following these unlocks.

marsbit6h ago

Weekly Token Unlocks: HYPE Unlocks $650M Worth of Tokens