Kalshi

Regulated prediction-market exchange

Overview

Kalshi operates an exchange on which users trade contracts on the outcome of real-world events, such as elections, economic data releases and sports, and is regulated in the United States as a derivatives exchange. CB Insights values it at US$22bn, records its entry to the unicorn list in June 2025, and names Sequoia Capital among its investors.[1] It is listed under New York in the enterprise-technology category.[1] It reached the top 25 within about 17 months of joining the list.It reached the top 25 within about 17 months of joining the list, and is one of 123 companies that CB Insights records as joining in 2025.[1]

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