Regulated prediction market exchange for trading on real-world events
Kalshi is the first federally regulated prediction market exchange in the United States, operating as a CFTC-designated contract market. The platform enables users to trade event contracts on real-world outcomes across sports, politics, economics, entertainment, and other categories. Founded by MIT alumni, Kalshi has grown rapidly to capture roughly 95% of U.S. prediction-market revenue, generating about $4B in annualized revenue as of August 2026 — driven largely by sports contracts. The company is in advanced talks with Sequoia Capital and Wellington Management to raise at least $750M at a $40B valuation, nearly double its May 2026 mark, and its CEO has floated a 2027 IPO.
Fintech📍 New York, NYFounded 2018
Current Valuation
$24B
as of 2026-Q1
DECACORN
QL Price
$20B
-14% vs last round
QuantLogix's current estimate for Kalshi, published 2026-10-07 — below the last disclosed round of $24B (2026-Q1).
Confidence
medium
Basis
blended
What backs this price
Last disclosed round
$24B
2026-Q1
weight 0.7
Secondary market print
$23B
2026-06-27
weight 0.54
Public-company comparables
$6.0B
2026-Q3
weight 0.27
How this price has held up
No round has priced for Kalshi since QuantLogix began publishing a price for it, so there is nothing to grade yet. The claim above is on the record from 2026-10-07 and will be graded against the next priced round. See the full accuracy record →
Which publicly-traded funds already hold it, what $10,000 buys, and whether any route is open to you.
Cite this price as QuantLogix QL Price, Kalshi, 2026-10-07 (570c1c6d1b407696).
The id pins this exact claim, so a citation stays checkable after the price moves.
Model estimate for research — not a quote, target price, or investment advice.
IPO Outlookprivate
Is Kalshi going public in 2027?
No. Kalshi is private and has not filed to go public; 2027 is the earliest year discussed. There is no S-1 on file.
What is Kalshi's valuation in 2026?
Kalshi is valued at $24B as of 2026-Q1, set by its Series F ($1.0B, Mar 2026). That is the last confirmed mark, not a live price — private shares do not trade continuously.
Has Kalshi filed an S-1?
No public S-1 is on file for Kalshi.
Who are Kalshi's investors?
Kalshi's investors include Coatue, Sequoia Capital, Andreessen Horowitz, Paradigm, IVP, Morgan Stanley and 4 more.
How much has Kalshi raised?
Kalshi has raised $2.6B in total, most recently a Series F of $1.0B in Mar 2026.
Is Kalshi publicly traded — can you buy Kalshi stock?
No. Kalshi is a private company — its shares are not listed on any exchange and there is no ticker. The routes to exposure are pre-IPO secondary marketplaces and funds (accredited investors), employee tender offers when the company runs one, and public companies with read-through exposure. QuantLogix maps every route it can verify for Kalshi on its Pre-IPO Access Desk.
Answers are derived from the roster record shown on this page — filing status, last round and confirmed marks. Where the record is silent, the answer says so rather than guessing.
Company Profile
CEO
Tarek Mansour
Founded
2018
HQ
New York, NY
Employees
~150
Total Raised
$2.6B
Est. Revenue
$4.0B (2026-Q3)
Growth
~$4B annualized revenue (Aug 2026), ~95% of U.S. prediction-market revenue; valuation target doubled to $40B in 3 months
Last Round
Series F — $1.0B (Mar 2026)
IPO Status
none
Fundraising Status
Series F · $1.0B · 7 mo ago
noneTotal raised $2.6B
Secondary Market
Implied price / share
$591.73
Last round price / share
$604.86
vs last round
-2.2%
Open interest
24
Last round price vs secondary price
Secondary price return by period
Implied per-share price from private secondary transactions, as of Jun 2026. This is a point estimate, not a quote — the feed carries no bid, ask or spread, and a secondary print is evidence of what someone paid on that date rather than a live market. Compare across every tracked name →
Latest Funding Round
Round
Amount
Date
Lead Investor
Post-Money
Series F
$1.0B
Mar 2026
—
—
Talent Signal
Hiring trend
▶ Hiring steady
+4% vs 2026-08
Open roles
28
via greenhouse
Product-build share
43%
engineering, research, product, design
Trajectory
steady
balanced build + GTM — 43% builders vs 57% go-to-market/G&A — scaling both sides.
Counted from Kalshi's live job board as of 2026-09-15; role functions classified from posting titles. Open-role counts are an activity signal, not headcount. Refreshed monthly.
Founders & Key People
Tarek MansourLuana Lopes Lara
Investors
Coatue · Sequoia Capital · Andreessen Horowitz · Paradigm · IVP · Morgan Stanley · ARK Invest · Meritech Capital · Y Combinator · CapitalG
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2026-Q1. Refreshed quarterly.