Kalshi

Other Financial Services · New York, NY · Founded 2018 · Privately Held (backing)

Operator of a regulated exchange intended for trading event contracts. Kalshi is based in New York, NY and was founded in 2018. It is valued at about $36.1 billion as of Oct 2026, set by secondary market price, down 10% since its later-stage round in Jun 2026. It has raised $2.5 billion across 11 recorded rounds; the latest was a $750 million later-stage round in Jun 2026.

PMV mark · valuation
$36.1B
Oct 2026
Secondary market · $/share
$971
Total raised
$2.5B
Last round
Later Stage VC
Jun 2026

Capitalization table

8 share classes, by liquidation seniority
ClassLiq. prefIssue price
Seed▮▮
Seed-1▮▮
Seed-2▮▮
Seed-3▮▮
Series A▮▮
Series B▮▮
+ 2 more classes · a free account shows the full cap table
Preferences, participation and issue prices are Pro.Unlock preferences + participation

Membership and data by Private Market View

Pro
The prices on Kalshi
  • ·Every dated print: 19 trades with prices and structures
  • ·5 fund marks: filer, period, implied $/share
  • ·The monthly marks chart, 34 months in dollars
  • ·Price per share on 9 rounds
Pro · $99 a month
List $299 · founding price, locked for as long as you stay

Membership and data by Private Market View

Reading Kalshi's cap table

Share classes are listed senior-first: in a sale or liquidation, higher-seniority preferred stock is paid its liquidation preference before junior classes and common see proceeds. A participating class takes its preference and shares in the remainder; a non-participating class chooses one or the other.

The original issue price is what investors paid per share in that class’s round — read against current secondary prices, it shows which investors are above or below water.

Frequently asked about Kalshi

How many share classes does Kalshi have?
Kalshi has 8 recorded share classes, listed by liquidation seniority — Seed is the most senior.
How many shares has Kalshi authorized?
Across its 8 recorded classes, Kalshi has authorized 12,084,259+ shares.
Where does Kalshi's cap table come from?
Share classes are assembled from certificates of incorporation, priced-round filings, and disclosures across Kalshi's 11 recorded funding rounds.