What is Kalshi worth?
$22.0Bimplied by the PA Mark · Sep 2026
Kalshi last raised an undisclosed amount in its IPO (Jan 2028).
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- ·Post-money valuations for all 12 rounds
- ·The complete investor list — 74 names
- ·Watchlist + deal alerts for Kalshi
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Valuation timeline
11 marks · Mar 2019 – Sep 2026▮▮
Equity-Based Accelerator9 roundsPA Mark
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Funding history
12 rounds| Date | Round | Raised | Post-money | $/share |
|---|---|---|---|---|
| Jan 2028 | IPO | — | ▮ | ▮ |
| Jun 2026 | Later Stage VC | $750.0M | ▮ | ▮ |
| May 2026 | Series F | $1.2B | ▮ | ▮ |
| Nov 2025 | Series E | $1.0B | ▮ | ▮ |
| Oct 2025 | Series D | $300.0M | ▮ | ▮ |
| Jun 2025 | Series C | $185.0M | ▮ | ▮ |
| + 6 earlier rounds · a free account shows the full history | ||||
How Kalshi's valuation is determined
Private company valuations aren’t quoted on an exchange — they’re established in moments: a priced funding round sets a post-money valuation, secondary trades print at a price per share, and SEC-registered funds holding the stock report fair-value marks in their N-PORT filings.
For Kalshi, we compose those signals into the PA Mark — a weighted composite of 6 recent pricing inputs, decayed by age and reset on new rounds. The implied valuation multiplies the mark by shares outstanding. Full methodology →
Frequently asked
- What is Kalshi worth?
- Kalshi's implied valuation is $22.0B, based on the PA Mark composite price of about $605 per share as of Sep 2026.
- How much has Kalshi raised?
- Kalshi has raised $2.5B in total funding across 12 recorded rounds.
- When did Kalshi last raise?
- Kalshi last raised in Jan 2028 (IPO).