Kalshi Reports 75% Completion of $1.5B Equity Raise With $1.12B Secured

Kalshi Reports 75% Completion of $1.5B Equity Raise With $1.12B Secured

A recent SEC filing reveals that prediction market platform Kalshi has raised $1.12 billion of its nearly $1.5 billion equity offering, drawing investment from 71 participants.

The prediction market platform Kalshi has revealed through a filing with the US Securities and Exchange Commission (SEC) that it has successfully raised $1.12 billion as part of a $1.5 billion equity offering that commenced in April.

Filed on Tuesday, the Form D document shows participation from 71 investors and notes that the initial sale took place on April 3. Approximately $380 million in securities remains available for purchase under this offering.

According to the filing, the securities are classified as equity, with Kalshi utilizing Rule 506(b) of Regulation D as its basis. This exemption permits companies to offer and sell securities without going through the SEC registration process, provided they meet specific conditions.

In early May, Kalshi made public announcements regarding a $1 billion Series F funding round that valued the company at $22 billion.

The Form D documentation does not specify whether this reported offering corresponds to the Series F round. Cointelegraph reached out to Kalshi seeking additional details but did not receive a response before this article went to press.

This filing emerges at a time when Kalshi is navigating legal battles with various US state authorities concerning its product offerings. During mid-August, a judge in Washington state issued an order requiring the platform to cease offering a wide array of event contracts within the state's jurisdiction, dismissing Kalshi's claims that federal legislation takes precedence over state gambling regulations.