Key facts
- Kalshi has sold $1.12 billion of its $1.5 billion equity offering.
- The offering began in April and relies on an exemption from SEC registration.
- The filing lists 71 investors.
- Approximately $380 million of the offering remains unsold.
Prediction market operator Kalshi has sold three-quarters of its $1.5 billion equity offering, raising $1.12 billion since the offering began in April. The company disclosed this in a filing with the U.S. Securities and Exchange Commission (SEC) on Tuesday. The Form D filing lists 71 investors and indicates that approximately $380 million remains to be sold. Kalshi is utilizing Rule 506(b) of Regulation D, an exemption that permits companies to sell securities without SEC registration under specific conditions. This development follows Kalshi's announcement of a $1 billion Series F funding round in early May at a $22 billion valuation, though the Form D does not explicitly link the current offering to that round. The company is also facing legal challenges from U.S. states regarding its event contracts.