Kalshi confirmed a $1 billion Series F funding round and a $22 billion valuation, according to the available text. The New York-based company also reported annualised trading volume of $178 billion; no further funding details are provided.
The funding and reported valuation indicate the scale of capital being raised by a prediction-market company.
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Kalshi chief executive Tarek Mansour said the company is considering an IPO but will not go public in 2026, describing the discussions as early-stage. A fundraising round targeting a $40 billion valuation was reported, while Kalshi’s last stated valuation was $22 billion after a $1 billion Series F in March. Mansour gave no listing date beyond saying a 2026 debut was ruled out.
Kalshi confirmed a $2 million, two-year investment in the National Council on Problem Gambling to support its initiatives. The contribution will fund the council’s Financial Trader Health and Safety Initiative, including consumer education and awareness of warning signs of harmful behaviour. Kalshi will join the council as a Platinum-level member and enter its Leadership Circle.
Utah has summoned Kalshi co-founders Tarek Mansour and Luana Lopes Lara to appear in Salt Lake City on 4 December over 14 criminal charges filed by the state’s attorney general. Separately, the CFTC approved Sporttrade as a designated contract market, following its derivatives clearing organisation approval in mid-October; Sporttrade said it is onboarding brokers including Fliff.
Tarek Mansour, who serves as chief executive, and Luana Lopes Lara, the chief operating officer, are the co-founders of Kalshi facing 14 criminal charges in Utah state court. The state's attorney general, Derek Brown, brought 13 felony counts plus a single misdemeanor against the company in a late-October filing that also identified Mansour and Lara as co-defendants. An initial arraignment in Salt Lake City is scheduled for 4 December. Daniel Wallach wrote in a post that the company must "personally appear" at 8:30 a.m. that day before Salt Lake City's Third District Court.
Utah prosecutors filed 14 criminal counts each against Kalshi, chief executive Tarek Mansour and chief operating officer Luana Lopes Lara, according to the report. The charges include a second-degree felony allegation of a pattern of unlawful activity; Kalshi argues its CFTC-regulated products fall under federal jurisdiction, while Utah says federal registration does not exempt the company from state gambling restrictions.
Utah has filed 14 criminal counts each against Kalshi, chief executive Tarek Mansour and chief operating officer Luana Lopes Lara. The charges include a second-degree felony count of pattern of unlawful activity.
DraftKings, FanDuel, Fanatics and PrizePicks have restricted some prediction market products in Utah after Utah Attorney General Derek Brown filed 14 criminal charges against Kalshi. DraftKings and FanDuel retain financial contracts, while Fanatics plans to stop taking trades in the state on 4 November; PrizePicks has disabled Team Picks and Culture Picks.
Utah's 14 criminal charges against Kalshi have led DraftKings, FanDuel, Fanatics and PrizePicks to pare back what they offer in prediction markets there. How far each operator goes differs.