Full-Time
Posted on 7/19/2025
Regulated event-contract trading platform
$100k - $250k/yr
New York, NY, USA
Remote
Kalshi runs a US federally regulated exchange that lets traders speculate on whether future events will occur using event contracts. These contracts are approved by the CFTC and enable positions on outcomes like statistics or legislative results. Traders place bets on events via Kalshi’s trading platform, and the company earns revenue from transaction fees on each trade. Kalshi differentiates itself by being the first federally regulated market for event contracts, focusing on a new asset class within the futures ecosystem, and attracting both individual investors and institutional traders. Its goal is to give participants a regulated venue to hedge or speculate on economically significant events, expanding the scope of traditional futures markets.
Company Size
201-500
Company Stage
Series F
Total Funding
$2.5B
Headquarters
New York City, New York
Founded
2019
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Company Equity
Factory Holdings, a family office platform for athletes and entertainers, led a $4.7 million investment into Kalshi's Series E round alongside a16z's Cultural Leadership Fund. The investment united 74 investors including athletes Marshawn Lynch, Diana Taurasi, Breanna Stewart and Connor McDavid. The round valued Kalshi, a prediction markets platform, at approximately $11 billion and included participation from Andreessen Horowitz, Sequoia Capital, CapitalG and Charles Schwab. Factory exceeded its original allocation target and closed the investment in roughly 2.5 months. Founded by Keenan Beasley, Factory provides athletes, entertainers and entrepreneurs access to institutional-quality private investments traditionally reserved for legacy family offices. The platform operates across wealth advisory, private investments and business building, aiming to help cultural leaders gain ownership in platforms they help shape.
At the Indian Gaming Association's annual convention this week, tribal leaders focused heavily on the threat posed by prediction markets like Polymarket and Kalshi. Chairman David Bean accused these platforms of circumventing gambling regulations, calling them "unlawful gambling dressed up as finance". Tribal gambling generates over $40 billion annually, funding healthcare, housing and education in Native American communities. Four tribal nations have sued Kalshi and Robinhood, claiming they violate federal law and state-tribal compacts. The platforms argue they operate financial markets, not gambling operations. The association announced a defence fund to support legal actions and called on Congress to regulate prediction markets. However, the Trump administration has backed the platforms, which are already facing lawsuits from more than a dozen states.
Kalshi, the world's largest prediction market, has appointed Stephanie Cutter as policy adviser. Cutter is managing partner of Precision Strategies and a veteran Democratic strategist who previously served as campaign manager for President Barack Obama. Founded in 2018, Kalshi operates regulated financial markets on real-world events including elections, economic indicators and sports. The platform has gained significant traction amongst politicians, with figures from Leader Hakeem Jeffries to Mayor Zohran Mamdani referencing "Kalshi odds". Cutter will focus on data-driven storytelling and deepening the company's relationships in Washington and nationwide. At Precision Strategies, she has worked with Fortune 50 companies, news networks and sports leagues, integrating data-driven communications with campaign-style approaches.
Kalshi generated over $25 million in fee revenue during the first four days of the NCAA men's basketball tournament, processing more than $2 billion in trades. March 19, the tournament's opening day, was Kalshi's second-biggest day ever with $645.7 million in volume, trailing only the Super Bowl. The platform earned $6.6 million in fees on the first day alone. Over the four-day period, total volume reached $2.34 billion, exceeding Kalshi's fee revenue for the first five months of 2025. Sports betting dominated activity, comprising 90% of volume throughout the tournament. College basketball bets accounted for over half of volume during the first round and approximately 40% in the second round, with parlays making up an additional 13%.
Kalshi, a WealthTech platform that offers a prediction market for investors to trade on outcomes in real-world events, has reportedly raised around $1bn, according to a report from WSJ. The close of the investment round brings the company’s valuation to $22bn, which WSJ sites with sources familiar to the matter. The deal was led by Coatue […]