Kalshi Stock Price, Valuation & IPO
Private company — Kalshi is privately held. Its shares are not listed on any public exchange and can only be accessed through private secondary transactions.
Status source: AXEVIL investment team
$981.29 per share (AXEVIL consensus estimate)
Source: AXEVIL consensus of recent secondary transactions · as of 27 October 2026
Last round valuation: $40B
Source: G, September 2026, post-money
Total raised: $2.59B in equity · $2.89B incl. debt
Data last updated: 27 October 2026
About Kalshi
Regulated prediction-market exchange where users trade contracts on the outcome of future events. In May 2026 the company raised $1B in a Series F at a $22B valuation, doubling its valuation in five months and capturing over 90% of the US prediction-market share.
Kalshi is the first and only federally licensed event-contract exchange in the US. Founded in 2018 in New York. A user buys a yes/no contract on the outcome of a future event priced between $0 and $1, where the price is the market's view of the probability; the price is set by participants' own order book, and the company earns an exchange fee on turnover. What sets it apart from competitors is its status: a derivatives exchange license from the US federal regulator. In eighteen months the company went from a niche venue to a business with $3.5B in annualized revenue, against $735M in December 2025. Current valuation is $22B from a Series F (May 2026); $2.59B raised in equity, $2.89B including debt.
- Sector: Prediction Markets / Web3
- Headquarters: New York, USA
- Founded: 2018
Key highlights
- The main legal risk is gone: federal law turned out to override state bans. On July 28, 2026 a federal judge suspended Minnesota's law, the first outright US ban on prediction markets, agreeing that federal derivatives regulation takes precedence over state law.
- Revenue grew almost fivefold in half a year, faster than the valuation. In December 2025 the run rate was $735M annualized; by June 2026 it was $3.5B.
- The World Cup proved the model works on a mass event. For the first time it became visible that prediction markets can absorb the demand of a mega sporting event, not just an election cycle.
- The US midterm elections fall in November 2026. Political contracts remain Kalshi's strongest event type — the very one the company spent four years litigating against the regulator to offer.
Funding rounds
| Date | Round | Price / share | Post-money valuation |
|---|---|---|---|
| 17 September 2026 | G | $1,066.38 | $40B |
| 19 March 2026 | F | $604.86 | $22B |
| 20 November 2025 | E | $320.76 | $11B |
| 10 October 2025 | D | $162.02 | $5B |
| 25 June 2025 | C | $44.96 | $2B |
| 3 November 2021 | B | $33.01 | $750M |
| 17 February 2021 | A | $5.82 | $145M |
| 4 March 2020 | Seed | $2.51 | $40M |
Frequently asked questions
How can I buy Kalshi stock before the IPO?
Not on a public exchange — Kalshi is privately held. Shares change hands only in private secondary transactions. AXEVIL structures those as dedicated US special purpose vehicles for accredited investors, subject to availability and to the rules of your jurisdiction.
What is the Kalshi stock price?
A private company has no single official share price. AXEVIL's consensus estimate is $981.29 per share as of 27 October 2026. Its most recent round implied a post-money valuation of $40B (September 2026).
What is Kalshi's valuation (net worth)?
Kalshi's most recent funding round valued the company at $40B post-money (September 2026) — the latest primary-market measure of what the company is worth. Secondary trades can price its shares above or below that round.
When will Kalshi IPO?
No listing has been announced. AXEVIL does not forecast IPO dates — this page states what has actually been filed or reported, with the date it was last checked.
Is Kalshi publicly traded?
No. Kalshi is a private company and its shares are not listed on any public exchange.
Does Kalshi have a stock symbol?
No. Kalshi has no ticker symbol because its shares are not listed on any exchange; a symbol is assigned only at an IPO or direct listing.
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Risk disclosure
Nothing on this page is an offer to sell or a solicitation to buy any security, and it is not investment advice. Valuations and share prices shown here are AXEVIL estimates built from primary sources — filings, announced rounds and completed secondary transactions — not quoted market prices, and they can be revised. Private-company shares are illiquid, may be impossible to sell, and the entire amount invested can be lost. Availability depends on your jurisdiction and on accredited-investor status.