The round was led by Sequoia Capital with participation from Charles Schwab, chairman of Charles Schwab Corporation, Henry Kravis, co-chairman & co-CEO of KKR, SV Angel and previous investors including Neo and YC Continuity. The announcement comes on the heels of the Commodity Futures Trading Commission (CFTC) approving Kalshi as a Designated Contract Market (DCM) in November, making it one of just 16 DCMs in the U.S.

Founded by Tarek Mansour and Luana Lopes Lara, Kalshi is the first CFTC regulated exchange dedicated to trading directly on the outcomes of future events. The exchange enables investors to buy yes or no positions in regards to whether an event will happen or not through a novel asset class, event contracts. Kalshi's vision is to allow people to capitalize on their opinion and hedge everyday risks. The company is backed by a number of Silicon Valley and Wall Street-based investors including Sequoia, Charles Schwab, Henry Kravis, Neo, Y Combinator, SV Angel and Global Founders Capital.