Kalshi | Crypto

Kalshi is reportedly in talks to raise new capital at a $40 billion valuation, reflecting growing investor confidence in regulated prediction markets. US-based prediction market platform Kalshi is reportedly in talks to raise funds at a $40 billion valuation, nearly doubling its $22 billion valuation in May. The company could close the new funding round as soon as the third quarter of this year, the Financial Times reported on Wednesday, citing people familiar with the matter. Kalshi closed a $1 billion Series F in May, led by Coatue Management, with participation from Andreessen Horowitz, Sequoia Capital, Morgan Stanley and Ark Invest. Its $22 billion valuation at the time was double the company’s $11 billion valuation in December and more than four times its $5 billion valuation in October. Read more

The prediction markets company claimed that it would be “irreparably harmed” when an Illinois law signed as part of a budget package goes in effect on July 1. Prediction markets company Kalshi has filed a lawsuit against state officials in Illinois over legislation it says “expressly bans sports event contracts” on its platform. In a Tuesday filing in the US District Court for the Northern District of Illinois, Kalshi alleged that Illinois Governor JB Pritzker, Attorney General Kwame Raoul, and other officials on the state’s gaming board “usurped” the authority of the US Commodity Futures Trading Commission (CFTC) over prediction markets. Specifically, the company alleged that legislation signed into law last week in Illinois, requiring prediction market platforms to be licensed in the state to offer sports event contracts, violated federal law. Kalshi claimed that it would be “irreparably harmed” when the law, Illinois Senate Bill 3019, takes effect on July 1. Read more

One of the largest U.S. derivatives exchanges is bringing back yes/no bets on the S&P 500 after pulling them a decade ago, moving onto turf that Polymarket and Kalshi turned into one of the internet's fastest-growing corners.

Kalshi has added India to its list of 55 restricted jurisdictions, months after Indian authorities warned VPN providers to stop facilitating access to these platforms. Prediction market Kalshi has added India to its list of restricted jurisdictions, according to a members' agreement document updated on Wednesday. The document now lists a total of 55 restricted jurisdictions whose residents are blocked from accessing the platform. India's Ministry of Electronics and Information Technology warned virtual private network (VPN) providers in April to stop facilitating access to “illegal and blocked online betting and prediction market platforms.” Read more

WSJ says Schwab is working with Cboe on S&P 500 prediction-style products, while Cboe's Mini-SPX materials show how Wall Street can package yes-or-no trades inside listed options. The post Charles Schwab prediction market partnership with Cboe to take traders away from Polymarket, Kalshi appeared first on CryptoSlate.

The prediction market platform is reportedly exploring a public listing after surpassing $2 billion in annualized revenue as sports contracts face mounting legal scrutiny. Prediction market Kalshi is reportedly in early, informal talks with investment banks about an initial public offering (IPO), despite increasing regulatory scrutiny over sports betting contracts on these platforms. Kalshi is in early-stage talks to go public via an IPO after the platform surpassed $2 billion in annualized revenue, unidentified sources familiar with the matter told The Information, according to a Friday report. A spokesperson for Kalshi declined to comment on the matter. Read more

The CFTC approved KalshiEX's BTCPERP contract on May 29, one day after Kalshi submitted it under Regulation 40.3. The contract references spot Bitcoin, carries no expiry date, and perps generally allow leverage as high as 50-to-1, with automatic liquidation that can wipe out positions during sharp moves. CME CEO Terry Duffy announced the company would […] The post CME lawsuit challenges whether Kalshi’s Bitcoin leverage push can become an everything-exchange appeared first on CryptoSlate.

Kentucky has sued Polymarket, Kalshi and Kalshi’s partners Coinbase, Robinhood and Webull, over offering sports event contracts in the state. Kentucky has sued five prediction market platforms, including Kalshi and Polymarket, adding to a wave of US states launching legal fights with prediction markets over sports event contracts. State Attorney General Russell Coleman said in a statement Wednesday that his office filed lawsuits in state court against Polymarket and Kalshi — also naming Kalshi partners Coinbase, Robinhood and Webull — accusing them of “operating unlicensed and illegal sports betting and gambling platforms.” “Kalshi and Polymarket are operating illegal sportsbooks in Kentucky and breaking our laws,” Coleman said. “These multi-billion dollar corporations and their legal fictions don’t pass the sniff test. As one of our state legislative leaders said it best, ‘If it looks like a duck and quacks like a duck…’” Read more

The collaboration comes as US state regulators and the CFTC battle over oversight of event-based contracts. Prediction market Kalshi has partnered with compliance software provider StarCompliance to launch a monitoring platform designed to help financial companies oversee employee activity on prediction markets, as the sector faces increased scrutiny over insider trading and the use of non-public information. According to Wednesday's announcement, the system is intended to flag employee activity based on transaction volume, trading patterns, market categories and work-hour activity, while giving firms a centralized way to manage investigations and audit records tied to prediction market exposure across onchain and offchain environments. The launch comes days after a federal judge set a December trial date for US Army Master Sgt. Gannon Ken Van Dyke, who prosecutors allege used non-public information about a military operation targeting Venezuelan President Nicolás Maduro to earn more than $400,000 on predicti...

A BBB advertising watchdog escalated its review of Kalshi after the prediction market platform declined to participate in an inquiry into influencer disclosure practices. The Better Business Bureau’s (BBB) National Advertising Division (NAD) is referring prediction market platform Kalshi to regulatory authorities after the company declined to participate in an inquiry into its social media advertising practices, adding another layer of scrutiny to the fast-growing event trading platform. In a statement published Monday, NAD said it will refer the matter to the appropriate regulatory authorities, including relevant state Attorneys General, for possible enforcement action. The inquiry examined whether Kalshi’s influencers and affiliates clearly disclosed paid relationships in social media promotions and whether the company took adequate steps to comply with Federal Trade Commission endorsement guidelines. Read more

Kalshi LINK Perps Live as ETF Inflows Hit $101M The post Chainlink Heating Up? Kalshi’s CFTC-Regulated LINK Perps Launch as ETF Inflows Hit $101M appeared first on Cryptonews.

Retail trading platform moomoo has partnered with Kalshi to offer CFTC-regulated event contracts tied to economic data, elections and major sporting events directly within its app.

Spain joined a growing list of national authorities restricting or banning prediction market platforms amid concerns over unlicensed gambling activities. Spain’s gambling regulator blocked local users from Polymarket and Kalshi “as a precautionary measure” as authorities there address allegations the prediction markets platforms were in violation of gambling laws.  On Tuesday, Spain’s Directorate General for the Regulation of Gambling (DGOJ) said the country’s Ministry of Social Rights, Consumption, and Agenda 2030 had opened legal proceedings against the two companies, as they appeared to be operating without necessary licensing. The DGOJ issued an order blocking Spanish users from Kalshi and Polymarket until the proceedings were resolved, expected in three to four months. “The DGOJ wishes to remind the public that, in Spain — in line with other European jurisdictions — prediction markets are deemed to constitute games of chance when bets are placed on uncertain future outcomes,” according to a Tuesday notic...

"We’re not going to be outspent or out-organized by entrenched interests protecting their monopolies," said John Bivona, head of government relations at Kalshi. Kalshi has backed a new lobbying group for prediction markets called Americans for Fair Markets, which has tapped former deputy White House chief of staff Taylor Budowich as its strategic advisor. Kalshi said on Friday that the organization is positioning itself against sportsbooks and casinos, which it claims are “focused on protecting their monopolies and seeding lies about prediction markets to policymakers.” Americans for Fair Markets, which Kalshi said was launched with its support, would join a broader lobbying push that includes the Coalition for Prediction Markets, an advocacy group for prediction markets launched in December 2025, backed by Coinbase, Crypto.com, and Robinhood. Read more

Representative James Comer asked CEOs of two major prediction market companies for information on their responses to insider trading after “suspiciously timed trades” related to US military actions against Iran. Update (May 22 at 7:40 pm UTC): This article has been updated to include statements from Polymarket and Kalshi. The chair of the US House of Representatives’ Oversight and Government Reform Committee sent letters to the CEOs of Kalshi and Polymarket, questioning the companies’ response to incidents of insider trading on the platform. In a Friday X post, Committee Chair James Comer confirmed reports that he had sent letters to Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour, asking them for internal records on how the companies were handling insider trading. The Kentucky lawmaker said there were concerns in Congress over elected officials using “basic insider knowledge” to profit off the government’s actions. Read more

Polymarket has gone dark in India and as per local media reports, Kalshi could be next.

The Commodity Futures Trading Commission has urged the Sixth Circuit Court of Appeals to rule that the agency has jurisdiction over prediction markets. The US Commodity Futures Trading Commission has backed Kalshi in the company’s legal fight against the state of Ohio, asking an appeals court to affirm that the regulator has jurisdiction over prediction markets. The CFTC filed an amicus brief in the Sixth Circuit Court of Appeals on Tuesday, accusing Ohio of “jurisdictional overreach” after state authorities told Kalshi last year to stop offering sports event contracts in the state, calling them unlicensed sports gambling. Kalshi sued Ohio authorities in October, seeking to have a federal court stop the Ohio Casino Control Commission and the state attorney general from taking action, but the court denied the request in March, leading Kalshi to appeal the decision. Read more

Fresh capital from top Wall Street and Silicon Valley firms signals increasing confidence in regulated event trading and retail prediction markets. Prediction marketplace Kalshi has reached a $22 billion valuation after closing a $1 billion Series F funding round, underscoring growing venture capital appetite for prediction markets amid surging retail adoption. The new valuation doubles Kalshi’s worth from just five months ago. The funding round was led by Coatue Management, with participation from Andreessen Horowitz, Sequoia Capital, Morgan Stanley and Ark Invest. The raise comes as investors increasingly view prediction markets as one of the fastest-growing segments of digital finance. Andreessen Horowitz’s crypto unit, a16z crypto, recently raised $2.2 billion for its latest fund and identified prediction markets as a major investment theme. Read more

Brazil has blocked 27 prediction market platforms, including Kalshi and Polymarket, as new rules classify many contracts as gambling. Brazilian authorities have moved to shut down 27 prediction market platforms, including Kalshi and Polymarket. The decision, announced Friday, follows a directive from the Ministry of Finance and enforcement by the National Telecommunications Agency (Anatel), according to state-owned news outlet Agência Brasil. Authorities claimed that such services fall outside Brazil’s current legal framework and therefore operate illegally. “We have been monitoring the evolution of this sector in Brazil, which suffered a period of anarchy because there were no rules, no oversight, from 2018 to 2022,” Finance Ministry executive secretary Dario Durigan reportedly said during a press conference at the Palácio do Planalto. Read more

Wisconsin’s lawsuit against Kalshi, Robinhood, Coinbase, Polymarket and Crypto.com deepens the battle between state gambling enforcers and federal regulators over sports prediction markets. Wisconsin’s top law enforcement official has sued a group of fintech and crypto platforms, including Kalshi, Robinhood, Coinbase, Polymarket and Crypto.com, accusing them of facilitating illegal sports betting by offering “event contracts,” according to complaints filed April 23 in Dane County. Attorney General Josh Kaul is seeking preliminary and permanent injunctions to block the companies from offering sports-related markets to customers in Wisconsin and to have a court declare the operations unlawful under state gambling law and a public nuisance. The case adds to a growing clash between state gambling laws and federally regulated prediction markets, as regulators and courts across the United States debate whether event contracts are financial instruments or illegal wagers. Read more