what's kalshi?
Kalshi is a federally regulated prediction market platform that enables users to trade contracts on the outcomes of real-world events, such as elections, economic indicators, and cryptocurrency prices. Founded in 2018, it operates as a U.S.-based exchange approved by the Commodity Futures Trading Commission (CFTC), allowing participants to speculate on yes/no questions with cash-settled contracts. The platform has achieved significant growth, processing billions in trading volume and recently surpassing competitors like Polymarket to become the world's largest prediction market by volume. In October 2025, Kalshi raised over $300 million in a Series D funding round led by Sequoia Capital and Andreessen Horowitz, valuing it at $5 billion and fueling plans for global expansion to over 140 countries. Key features include seamless crypto integrations for deposits via Solana and Avalanche, real-time market data, and partnerships with platforms like Robinhood to broaden accessibility. While no native token has been launched, the platform is actively engaging crypto influencers and hinting at potential airdrops to incentivize user growth in Q4 2025.
Political figures lead prediction market coalition; Kalshi engages CFTC, ICE, and gains mainstream visibility.
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x.com/kalshiAnnounced Democrat Ambassador Sean Patrick Maloney will lead as CEO and President of the Prediction Market Coalition, with Republican House Financial Services Chair Patrick McHenry as Senior Advisor.
Kalshi participated in the CFTC's CEO Innovation Council formed in late 2025 under Acting Chair Caroline Pham to discuss tokenization, blockchain infrastructure, and market structure innovations.
Referenced during the Golden Globes broadcast, marking mainstream media visibility alongside Polymarket for prediction markets.
Reached $5.68M in total volume over the past 24 hours.
Reached $455M in trading volume on January 10, 2026.
Received cease-and-desist order from Tennessee regulators requiring halt of sports event contracts to Tennessee residents, voiding of open contracts, and refund of deposits by 2026-01-31, with regulators classifying such contracts as unlicensed sports betting under Tennessee law.
Makes debut on Setter Capital's Q4 2025 list of the 30 most in-demand startup secondary shares.
Added support for Monad integration.
Launched ecosystem grants program with over $2M in total funding available to support development of prediction market apps.
Achieved $7 billion in spot volume during December 2026.
Supported as one of two platforms in the World Cup of Prediction Markets event by future.fun, the largest prediction markets event ever run.
Reached $100 billion in annualized trading volume.
Enforces restrictions that prohibit insider trading on its platform.
Processed tens of billions of dollars in trading volume together with Polymarket in 2025.
Featured as one of the prediction market platforms on ThePredictionMarket, a newly launched aggregator and comparison site for prediction markets.
Reached all-time high monthly trading volume of $6.38 billion.
Powers Synthesis, a new cross-chain prediction market platform with advanced order types and social context features.
Integrated with Polymarket as a liquidity provider for RAINMAN, a weather market liquidity layer platform.
Integrated with solprice site to enable one-click betting on crypto sentiment markets.
Traded $313M in spot volume on December 25, 2025 (Christmas day).
Recognized as one of the fastest growing Y Combinator companies alongside Axiom Exchange.
Integrated with Pikkit app for profit and loss tracking alongside 100+ sportsbooks and other prediction markets.
Partnered with the Chicago Blackhawks, marking the first professional sports team deal.
Introduces Kalshi Research as a new product or service.
Added support for BNB Chain.
An AI-generated advertisement produced for $2,000 won best ad of the year recognition.
Received direct backing from Brian Armstrong.
Reached daily volume all-time high of approximately $300 million.
Offers 15-minute duration trading markets on its platform.
Speculation exists that Kalshi could introduce a utility or governance token tied to its onchain markets in 2026, but no official token announcement has been made.
Integrated TRON blockchain network, enabling deposits and withdrawals using TRX and USDT on TRON.
Achieves some of the lowest Brier scores across major prediction platforms, reflecting strong forecast accuracy even months before market resolution according to Dune and Keyrock's prediction markets report.
Launched Kalshi Crypto approximately four months before December 17, 2025.
Partnered with KaitoAI to launch Mindshare Markets, enabling prediction markets on exchange mindshare metrics.
Kalshi integrates with Sei Network, allowing users to deposit and withdraw native USDC directly on the Sei blockchain with fast settlement and low fees, primarily available to US users due to CFTC regulations.
Kalshi launches combos feature, allowing users to combine multiple bets into one slip.
Kalshi integrates into Phantom wallet, expanding accessibility through one of Solana's major wallet providers.
Kalshi records $1.1B in weekly spot volume, ranking 3rd among prediction markets behind Opinion Labs ($1.5B) and Polymarket ($1.2B), while maintaining monthly volume leadership since September.
Into.space, a leveraged prediction market platform on Solana offering up to 10x exposure, partners with Kalshi to bridge regulated off-chain prediction markets into on-chain trading for liquidity and credibility.
Converge, a cross-venue prediction market aggregation platform with zero fees and multi-venue event aggregation, announces incoming Kalshi integration after launching Polymarket execution and ranking Top 10 on Builder Leaderboard.
Kalshi secures federal validation against state-level legal challenges.
Kalshi partners with CNN and integrates with Sei Network, enabling direct deposit of SEI and USDC from Sei blockchain.
Phantom wallet integrates Kalshi prediction markets allowing direct trading with SOL or CASH stablecoin without additional accounts. Kalshi raised $1B at $11B valuation from Paradigm, Sequoia Capital, and Andreessen Horowitz, and generated $5.8B in activity last month.
Kalshi partners with Jupiter Exchange for tokenized prediction markets on Solana and operates non-tokenized markets for regulated exchange integration.
DFlow launches a prediction market API on Solana as part of the Predictify Everything event in Abu Dhabi. Coinbase partnership is non-exclusive but Kalshi is the sole prediction market operator, with official announcement scheduled for Coinbase System Update event on December 17 alongside tokenized stock offerings.
Robinhood previously partnered with Kalshi for prediction markets but subsequently decided to pursue an independent approach instead.
Kalshi launches builder codes program with Phantom, who previously generated $10M+ from builder codes on Hyperliquid.
Coinbase unveils prediction markets powered by Kalshi.
"Predictify Everything" event scheduled for tomorrow, presented by Solana, Kalshi, Phantom, and DFlow, announces the launch of a new chapter for onchain prediction markets built natively and openly on Solana.
Intodotspace, the first leveraged prediction market on Solana, partners with Kalshi.
Phantom integration allows users to trade Kalshi prediction markets with any Solana token including SOL, USDC, CASH, and even meme coins like Fartcoin according to Brandon Millman.
Phantom wallet integrates Kalshi prediction markets, providing 20+ million Phantom users direct access to prediction markets on Solana via DFlow infrastructure. The integration was announced at Solana Conference.
Platform surpasses 21 billion cumulative contracts traded milestone. DFlow announces 75+ app integrations with $33 billion cumulative trading volume using Kalshi-powered Prediction Markets API.
Weekly prediction market data shows Kalshi at #1 for open interest ($304m), #2 for transactions (4.9m), and #3 for notional volume ($1.14b).
DFlow ships Prediction Markets API powered by Kalshi infrastructure.
Kalshi has integrations with major mainstream organizations including CNN, CNBC, and Google Finance. TradeOnsight builds a social layer for prediction platforms including Kalshi.
Space (intodotspace) partners with Kalshi for perps on prediction markets on Solana, according to an investor in Space's ICO.
Paradigm publishes research approximately 6 days after the $1B funding round, reportedly cutting Polymarket's volume in half. The tweet alleges both platforms operate trading desks to trade against users, with Wall Street backing both entities.
ConvergeMarkets tests Kalshi integration internally following their Polymarket execution launch, with feedback from private beta actively being implemented.
Raised $1B at an $11B valuation, followed by continuous announcements and increasing attention.
Polymtrade announces upcoming Kalshi markets integration powered by DFlow, introducing gas-free SOL deposits by sponsoring all Solana transactions for users.
Daily trading volume reaches approximately $30M+, described as early-stage exchange-level growth.
Kalshi launches builder program with $2M in grants for developers to integrate prediction market trading into applications, bots, and tools using partner toolkits including DFlow and Jupiter, with monetization through builder codes tracking trading volume.
CFTC Acting Chair appoints Kalshi CEO Tarek Mansour to the first CFTC CEO Innovation Council alongside leaders from CME, Nasdaq, Polymarket, Kraken, and Gemini to advise on market structure issues including prediction markets, tokenization, and blockchain-based infrastructure.
Partnership with Into.space brings real-world event trading to Solana as the first leveraged prediction market on the chain with 10x leverage, CLOB trading, and 0% maker fees.
Kalshi flips Polymarket on attention metrics tracked by TrendLe platform.
Partnership announced with CNN, marking another mainstream media integration for the platform.
Kalshi secures temporary relief from Connecticut's enforcement action, allowing continued operations in the state during ongoing legal proceedings.
Platform achieves over $4.4B in volume and feeds prediction data directly into CNBC.
Opinion Labs drives $1.4B in volume last week, capturing 34% of prediction market spot volume (up from 8% in October) and taking market share from Kalshi and Polymarket.
Kalshi surpasses $2.8 million cumulative notional volume on Solana blockchain as on-chain activity accelerates.
Robinhood starts featuring Kalshi, expanding platform accessibility to Robinhood users.
Kalshi raises $1B at an $11B valuation.
Paradigm holds an investment position in the platform.
Traders on the platform price December rate cut odds at 94%, a new all-time high.
The platform adds native SEI and USDC deposit support, connecting to the SEI blockchain ecosystem.
The platform surpasses $20.4 billion in all-time notional volume.
Jupiter launches prediction markets in beta in partnership with Kalshi as part of its DeFi SuperApp expansion.
Kalshi launches builder grants and codes program as part of its Solana expansion.
All Kalshi prediction markets are now tokenized on Solana by dflow, bringing the platform's entire market suite onchain.
The platform achieves $11B valuation and secures deal with CNN.
Kalshi enables native SEI and USDC deposits on Sei blockchain, connecting real-world event markets with onchain execution.
People claim free Kalshi badges.
BlynxFi launches as a new project building on Kalshi infrastructure integrated with Solana, offering trading functionality through Solana blinks.
The prediction market platform surpasses 80,000,000 cumulative transactions.
DuelTrade builds as a social trading layer on top of Kalshi, offering flow alerts, copy-trading features, and leaderboards to track volume spikes and trader performance on the platform, with the project built on Base and currently in gated access.
Kalshi co-presents Predictify Everything summit at Breakpoint alongside Solana Foundation, Phantom, and dflow, bringing together teams building onchain prediction markets on Solana.
Kalshi included in list of projects with anticipated launches in H1 2026, indicating a potential token generation event or public market debut in that timeframe.
Kalshi enters media partnerships with both CNN and CNBC to expand mainstream presence.
Kalshi launches tokenized predictions on Solana and announces $2M builder grants program.
Kalshi climbs up the zTerminal Mindshare tree map alongside Polymarket as prediction markets capture the narrative.
Kalshi leads prediction markets with 4.93m transactions, $354m open interest, and $1.21b notional volume in weekly metrics, showing 12% transaction growth and 11% open interest growth week-over-week.
Kalshi closes $1 billion funding round, making co-founder Luana Lopes a billionaire.
Kalshi launches on Sei Network for faster and cheaper prediction market operations.
LunarCrush now tracks social intelligence from Kalshi, enabling users to monitor social momentum, spot divergence between price and attention, and follow narratives in one platform.
Connecticut issues order directing the platform to stop prediction markets operations, alongside Robinhood.
CNN partners with Kalshi to integrate prediction market data with live tickers and embedded odds in news coverage.
Kalshi announces exclusive partnership with CNBC to display real-time prediction market data across CNBC's TV, digital, and paid platforms beginning in 2026.
Andreessen Horowitz joins Paradigm and Sequoia Capital in the $1 billion funding round at $11 billion valuation. Both founders Tarek Mansour and Luana Lopes Lara achieve billionaire status, with Lara becoming the world's youngest self-made woman billionaire, while 90% of platform's trading volume comes from sports markets and Webull joins Robinhood in brokerage integrations.