When Can We Bet on Kalshi Stock?

Explore opportunities to invest in Kalshi stock before the IPO.

Invest in leading AI, defense, and fintech startups at Fundrise Venture*. $10 minimum investment. 

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Notable Kalshi News

10/26/2025: Mocking of State Gambling Bans
10/22/2025: Kalshi Fields Offers at $10+ Billion Valuation 
10/10/2025: Kalshi hits $5 billion valuation 
06/25/2025: Kalshi hits $2B valuation after breakout year
Older news…

About Kalshi

Kalshi is a regulated financial exchange that allows investors to trade or hedge on the outcome of real-world events.

Founded in 2018 by MIT graduates Tarek Mansour and Luana Lopes Lara, the company set out to create a new asset class centered on “event contracts.”

After years of regulatory engagement, Kalshi became the first federally regulated event futures exchange when it received approval from the U.S. Commodity Futures Trading Commission (CFTC) in 2020.

The platform enables users to buy and sell contracts on topics ranging from inflation data and interest rate decisions to entertainment, weather outcomes, and sports (effectively making sports betting legal in all 50 States).

Headquartered in New York City, Kalshi aims to make event trading as accessible and legitimate as stock or commodity investing.

The name “Kalshi,” derived from Arabic, roughly means “everything,”. It stands out as the only CFTC-regulated event exchange, differentiating it from other prediction markets like Polymarket that operate in the crypto space.

Ownership

Kalshi is a venture-backed startup owned by its founders, employees, and several venture capital firms. 

Venture capital investors include Andreessen Horowitz, CapitalG, Coinbase Ventures, Spark Capital, Multicoin Capital, Paradigm, BOND Capital, Lightspeed, Jane Street, FJ Labs, Proof Group, General Catalyst, Hudson River Trading, Sequoia, 
Greenoaks, Global Founders Capital, Neo, Henry Kravis, SV Angel, Y Combinator, Charles Schwab, Justin Mateen, and Ataria Ventures.

Funding Rounds

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Valuation

The latest confirmed Kalshi valuation is $5 billion based on the Series D funding round that closed in October 2025.

However, reports of a new funding round reveal investor interest at a $10 billion valuation. 

IPO Potential

Kalshi is a relatively new company that is not a likely near-term IPO candidate. As of Q4 2025, it’s in a hyper-growth phase as it scales its business.

Prediction markets are a new investment asset class, and the future potential for the business is widely variable at this stage.

Some predict that prediction markets could be a trillion-dollar asset if regulators remain friendly to the emerging industry.

An S-1 filing (confidentially or public) is the most accurate sign that an IPO may be forthcoming.

The intent to move forward with an IPO is usually leaked to the press long before the S-1 filing becomes available to the public.

We have heard no such indications from Kalshi leadership. 

How to Invest in Kalshi Stock

Kalshi is a venture-backed startup in a relatively early stage of its growth. Soon to be a decacorn, shares may start becoming available on secondary marketplaces where accredited investors can attempt to acquire investment exposure. 

Here are some potential options to own Kalshi stock before, during, and after the IPO.

1. Invest Pre-IPO

Pre-IPO investment platforms may offer Kalshi stock for purchase as employees or early investors seek to sell some of their shares before the Kalshi IPO.

Accredited investors may access shares, provided they are registered on the platform and receive notifications about their availability.

Monitor pre-IPO investing platforms such as Hiive, Augment, Equitybee, Nasdaq Private Markets, Forge Global, and EquityZen for share availability. 

If shares become available, expect to pay at least a $10,000 investment minimum on these platforms, often more.

Non-accredited investors can invest in pre-IPO companies via venture capital funds targeted at retail investors.

Fundrise Venture (review) is an excellent option for pre-IPO investing, but Kalshi is not a portfolio holding.

Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.

2. Participate in the Kalshi IPO through a broker

When a company eventually goes public, ordinary investors can sometimes buy the stock during the IPO at the IPO price.

Often, only Wall Street’s top customers can invest in IPOs. But with a larger IPO like Kalshi, investors may have an opportunity to access the IPO through participating discount brokers. 

Some online brokers (like the ones listed below) allow investors to invest in IPOs for free, even if they have limited funds in their accounts.

• TradeStation 
• Robinhood 

TradeStation has a more established track record of accessing more than 450 IPOs and secondary offerings via its partnership with Click Markets (formerly Click Markets).

Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs.

Check out this list of the best brokers for IPO investing to learn more about IPO access for retail investors.

3. Buy Kalshi stock after the IPO

Most retail and institutional investors must wait until after the IPO to invest.

Post-IPO investing offers access to more established financials after the first trading quarter, unlike limited pre-IPO financials.

High-demand companies may have inflated initial valuations after the IPO, sometimes allowing IPO investors to sell near the peak but risk losses when prices normalize.

But stock prices may drop after the first and second quarter earnings reveal earnings trends and IPO euphoria wanes. 

These declines can be ideal entry points for recent IPO stocks, avoiding overvalued shares post-IPO due to lockup expirations and earnings disappointments.

However, the most disruptive companies may outperform over a decade, rewarding patience.

Frequently Asked Questions (FAQs)

02/17/2021: Kalshi Raises $30 Million in Series A

Is Kalshi publicly traded?

No. Kalshi is not publicly traded. It is a private company. 

What is the Kalshi stock price?

A public Kalshi stock price does not exist. 

However, the Series D funding round in October 2025 transacted at $162.02 per share. 

What is the Kalshi stock symbol?

There is no Kalshi stock symbol yet because the company is private. But we can speculate on what it will be when the company files for an IPO. 

Here are some possible Kalshi ticker symbols available in the U.S.:

• KLSH
• KAL
• KASH
• KSHI

Where is the Kalshi IPO S-1 Filing?

Kalshi has not filed for an IPO confidentially yet, according to what’s publicly known.

Leadership is focused on building the business and growth, and is likely not worried about its future corporate structure at this time. 

I’ll post a copy of the S-1 filing on this page if and when it becomes available.  

You can monitor the most recent S-1 IPO filings on this website.

Conclusion

Kalshi represents one of the most ambitious financial innovations since the creation of options and futures trading.

By transforming real-world events into tradable assets, it’s building a bridge between prediction markets and institutional finance, a first under full U.S. regulatory oversight.

Helped by deregulation, its growing valuation signals investor enthusiasm and a structural shift in how markets perceive information as a new form of investable capital.

If Kalshi continues expanding beyond economic data into areas like geopolitics, sports, and climate, its addressable market could rival traditional derivatives exchanges.

Yet its long-term success depends heavily on regulatory clarity and its ability to attract liquidity without veering into speculative excess.

Early exposure through secondary markets or venture funds is the only option at this time. Investors interested in Kalshi stock can monitor this page for the latest updates.