Kalshi

Kalshi Inc., founded in 2018 by Tarek Mansour and Luana Lopes Lara and based in New York City, is a U.S. event-contract exchange regulated by the Commodity Futures Trading Commission (CFTC). In June 2025, Kalshi raised $185 million in a Series C funding round, valuing the company at approximately $2 billion. The platform allows users to trade yes/no event contracts across topics, including politics, economics, sports, and culture, with contracts paying out a fixed amount if the predicted outcome occurs. Recently, Kalshi has encountered regulatory friction, as Massachusetts filed a lawsuit accusing the Company of operating illegal sports wagering in the state by offering event contracts without the required licensing.