Prediction-market exchange growing valuation ~10x in under a year, fueled by regulatory tailwinds after CFTC actions favored Kalshi over unregulated rivals like Polymarket. Earliest rounds (seed, Series A) had no disclosed valuation and are omitted.
| Round | Date | Valuation | Lead |
|---|---|---|---|
| Series C | 2025-06-26 | $2.0B | Paradigm (also joined by Sequoia, Multicoin, Neo, BOND) |
| Series D | 2025-10-10 | $5.0B+150% | Co-led by Andreessen Horowitz and Sequoia Capital (also Paradigm, Coinbase Ventures, General Catalyst, Spark Capital, CapitalG) |
| Series E | 2025-12-02 | $11.0B+120% | Paradigm (also Sequoia, Andreessen Horowitz, Meritech, IVP, ARK Invest, Anthos, CapitalG, Y Combinator) |
| Series F | 2026-03-18 | $22.0B+100% | Coatue Management (also Sequoia, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, ARK Invest); initially reported by Bloomberg Mar 19 2026, legally closed per a Cooley notice around May 7 2026 |
| Status | S-1 Not Filed |
|---|---|
| Timing | 2027 or later |
| Notes | CEO Tarek Mansour is 'thinking about' an IPO but explicitly ruled it out for 2026. |
| Source | CNBC, Jun 24 2026; CoinDesk, Aug 13 2026 |
These are cited news signals only, not a PrePost prediction — year/valuation forecasting is on the roadmap but not live yet.
Transparent, formula-based composite (not machine-learned) of five signals: raise velocity, round acceleration, secondary premium/discount vs. the last primary round, up-round streak, and freshness of the last known mark.