Can you buy Kalshi stock? Not on a stock exchange: Kalshi is a private company, and its shares aren’t publicly traded. What’s public is how much investors have paid for stakes in it. This page tracks Kalshi’s funding rounds and valuation, and what’s known about an IPO, from company announcements and reputable reporting, checked October 2026.
Kalshi’s funding and valuation
| When | Raise | Reported valuation |
|---|---|---|
| June 2025 | $185 million, Series C led by Paradigm | $2 billion |
| October 2025 | $300 million | $5 billion |
| Late 2025 | $1 billion | $11 billion |
| 2026 | $1 billion, Series F led by Coatue | $22 billion |
| Autumn 2026 (reported, not announced) | About $1 billion, in talks with Sequoia and Wellington | About $40 billion |
When it announced the Series F, Kalshi said its annualised revenue was above $1.5 billion. Reports disagree on who led the late-2025 round. The autumn 2026 round had been reported by Bloomberg and Reuters but not announced as closed when we checked. Valuations are as reported; they aren’t audited.
Is Kalshi publicly traded?
No. Kalshi’s shares don’t trade on any stock exchange, so there’s no Kalshi ticker to buy. Investment so far has come from venture capital and growth investors in private rounds. Some investment platforms offer access to private-company shares to accredited investors, but that’s not the same as buying listed stock, and carries extra risks.
Will Kalshi IPO?
Kalshi hadn’t announced plans to go public when we checked in October 2026. Its recent rounds have been private raises at rising valuations. If it files publicly for an IPO, this page will be updated.
How Kalshi makes money
Kalshi earns transaction fees on trades and doesn’t take the other side of customers’ bets. See How does Kalshi make money? and Kalshi fees.
Who founded Kalshi?
Kalshi was founded in 2018 in New York by Tarek Mansour and Luana Lopes Lara, and became a CFTC-designated contract market in 2020. See our Kalshi review.
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