Companies
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Kalshi
13
Fintech
$34.2B
+$938.93
38,443.16%
30 days ago
$2.44
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Kalshi is a developer of an online financial platform designed to facilitate trading based on event outcomes. The company's platform supports the trading of event contracts on a CFTC-regulated exchange that facilitates users to make bets on various events and claims to win cash amounts, enabling users to capitalize on their opinions and trade in the domain of everyday knowledge.
Kalshi was founded in 2018 by Tarek Mansour and Luana Lopes Lara, notable for becoming one of the first prediction market platforms to receive designation as a regulated exchange by the U.S. Commodity Futures Trading Commission, letting it legally offer event-based trading contracts, sometimes described as a form of legalized betting on real-world outcomes such as election results, economic data releases, and other newsworthy events, to U.S. users under a federally regulated framework, a notably different regulatory path than competing prediction market platforms that have operated using offshore or cryptocurrency-based structures to avoid similar U.S. regulatory requirements. Kalshi experienced explosive growth through 2025 and into 2026, with the company's revenue run rate reported above $1.5 billion by May 2026 and approaching $2 billion by June 2026, representing substantial year-over-year growth, reflecting both the platform's rapidly expanding user base and its increasing breadth of tradeable event contracts spanning politics, sports, economics, and other categories. The company's rapid growth has occurred alongside intensifying competition from rival prediction market Polymarket, which has more recently begun more aggressively monetizing its own trading volume and has separately raised new capital at an escalating valuation, including a notable strategic investment commitment from Intercontinental Exchange, the parent company of the New York Stock Exchange. In Augment's Q2 2026 Power 20 rankings, Kalshi advanced one position to #12, with its estimated secondary-market share price rising 15.1% during the quarter to imply a market capitalization of approximately $22.8 billion, even as its trading activity on the Augment platform declined 31.4% quarter over quarter, with the ranking noting that Kalshi's continued price resilience despite lower secondary activity reflected strong underlying investor conviction in its still-accelerating revenue growth.
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