Kalshi don raise $185M for Series C to push regulated prediction market
Kalshi don close one $185 million Series C round wey Paradigm lead, wey value di prediction market platform for $2 billion. Major people wey join include Sequoia Capital, Multicoin Capital, Neo, Bond Capital and Citadel Securities. CEO Tarek Mansour plan to use di money make dem expand Kalshi tech team, make dem join more broker dem like Robinhood and Webull, plus make retail growth fast.
Di platform clear one big regulator wahala when CFTC commot dia appeal about political event contracts, dis one na di first time for over one century wey Americans fit legally trade election result. During di 2024 US elections and di NYC mayoral primary, Kalshi handle over $875 million trading volume and over 16 million trades.
After di election finish, volume start drop and Kalshi carry sport prediction contracts, wey take almost 80% of di daily volume for March and April. Di company now get 79% market share for sports prediction trading and e don add crypto deposit via ZeroHash, wey support BTC, SOL, WLD and USDC. As Donald Trump Jr. join as senior advisor, Kalshi dey strengthen dia regulated prediction market for crypto traders.
Bullish
The successful $185 million Series C financing and $2 billion valuation, wey top investors back am, don strong Kalshi financial position to expand dia regulated prediction market services. The CFTC withdraw dia appeal about political contracts don clear one big waka wey block dem, open new chances for retail and institutional trading. Di move into sports prediction contracts—wey dey near 80% of daily volume—diversify revenue dem and reduce d level wey dey drop after election. Integration with brokerage plus add crypto deposit options (BTC, SOL, WLD, USDC) plus make am easy for crypto traders to enter. All these developments fit cause more users to adopt am and trade plenty both short and long term, wey go give Kalshi platform activity better improvement.