Kalshi key facts
as of Oct 2026- Operator of a regulated exchange intended for trading event contracts.
- Kalshi is valued at approximately $36.1B (~$971/share on the secondary market) as of Oct 2026, down 10% since its later-stage round, Jun 2026, per PrivateMarketView’s mark.
- It has raised $2.5B across 11 recorded rounds; the latest was Later Stage VC ($750.0M) in Jun 2026.
- Notable investors include Andreessen Horowitz, Sequoia Capital, Global Founders Capital, Paradigm (Crypto Fund), Y Combinator — 74 tracked in total.
- 1 institutional filer reports fund marks on Kalshi across 5 filings.
- PrivateMarketView tracks 19 recorded secondary trades in Kalshi shares.
- 6 investment vehicles were formed to buy Kalshi shares in the last 12 months, reporting $23.0M sold to 169 investors, per SEC Form D filings.
- Kalshi has filed 3 Form Ds with the SEC since 2020, most recently Dec 2025 ($820.8M sold to 31 investors).
Down 10% since its later-stage round, Jun 2026 ($40.0B post-money).
Membership and data by Private Market View
- ·Post-money valuations for 10 rounds
- ·The complete investor list: 74 names
- ·Everyone on the team, board and advisors included
- ·Watch Kalshi: the Monday email on marks, rounds and moves
Secondary market
monthly marks · 34 months · Jan 2024 – Oct 2026Membership and data by Private Market View
Kalshi secondary trades
19 on record · Dec 2025 – Jul 202619 trades between Dec 2025 and Jul 2026. Exact dates, prices and structures are available to Pro members.
Membership and data by Private Market View
Institutional fund marks on Kalshi
1 filers · latest Jul 20261 SEC-registered fund reported 5 fair-value marks on Kalshi between Jan 2026 and Jul 2026. Filer-level marks and implied $/share are available to Pro members.
Membership and data by Private Market View
Kalshi funding rounds
11 roundsVehicles formed to buy Kalshi shares
secondary demand · SEC Form D filingsIn the last 12 months, 6 investment vehicles were formed to buy Kalshi shares, reporting $23.0M sold to 169 investors across 6 sponsors. Most recent filing May 2026.
Membership and data by Private Market View
Kalshi leadership
- Tarek MansourCo-Founder and Co-Chief Executive Officer
- Wilma SimmonsCo-Chief Executive Officer
- Rebecca SchickCo-Chief Financial Officer
- Saurabh TejwaniCo-Chief Financial Officer
Who backs Kalshi
74+Kalshi valuation
Kalshi is valued at approximately $36.1 billion as of Oct 2026. The figure is set by secondary market price and confirmed by fund marks. The secondary market quotes about $971 per share. The reference point is its later-stage round in Jun 2026, at a $40 billion post-money valuation; the current figure is down 10% since.
Kalshi ranks 8th by valuation and 11th by capital raised among the private companies PrivateMarketView tracks.
Recent activity
In the last 90 days, Kalshi's record added 2 institutional fund marks (latest period Jul 2026).
How much has Kalshi raised?
Kalshi has raised $2.5 billion across 11 recorded rounds since 2019. The largest was a $750 million later-stage round in Jun 2026. 10 of the rounds disclosed a post-money valuation.
Kalshi has filed 3 Form Ds with the SEC since 2020, most recently in Dec 2025 ($821 million sold to 31 investors).
Kalshi secondary market activity
19 secondary trades in Kalshi shares are on record, between Dec 2025 and Jul 2026. The busiest recent months were Jan 2026 (7 prints) and Dec 2025 (5 prints). 2 prints landed in the last three months. Exact dates, prices and structures are available to Pro members.
A monthly secondary-market price series for Kalshi runs from Jan 2024 to Oct 2026 (34 months).
Institutional holders and vehicles
1 SEC-registered fund reported 5 fair-value marks on Kalshi between Jan 2026 and Jul 2026, in their N-PORT filings. The latest fund marks confirm the current valuation. Filer-level marks and implied per-share values are available to Pro members.
In the last 12 months, 6 investment vehicles were formed to buy Kalshi shares, reporting $23 million sold to 169 investors across 6 sponsors, per SEC Form D filings (most recent May 2026).
Kalshi investors
74 investors are on record for Kalshi, led by Andreessen Horowitz, Sequoia Capital, Global Founders Capital and Paradigm (Crypto Fund). By type, the record holds 28 venture capital firms and 4 asset managers. 4 of them led at least one round. The Series F in May 2026 drew 10 investors.
Who runs Kalshi
12 people are listed on the Kalshi team: 8 executives and 4 board members, including Luana Lara (Co-Founder) and Tarek Mansour (Co-Founder). 12 of them have a verified direct contact on file.
Comparable companies
Comparable other financial services names by valuation on PrivateMarketView: Stripe ($184 billion), Bilt Rewards ($10.8 billion) and Circle ($7.7 billion).
About Kalshi
Operator of a regulated exchange intended for trading event contracts. The company operates as a designated contract market regulated by the Commodity Futures Trading Commission, utilizes a central limit order book for matching buyers and sellers, facilitates direct trading on real-world event outcomes, implements clearinghouse functions for trade settlement, and provides real-time market data, enabling individual traders to hedge risks and participate in the information economy.
- Industry
- Other Financial Services
- Sector
- Financial Services
- HQ
- New York, NY, United States
- Founded
- 2018
- Employees
- 150
- Website
- kalshi.com/
- Ownership
- Privately Held (backing)
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