# Kalshi

Kalshi is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2018
- **Assets under management:** Undisclosed
- **Website:** kalshi.com
- **LinkedIn:** https://www.linkedin.com/company/kalshi

## Regulatory record

- **Reports private funds:** No

## About

Kalshi is a New York City-based company founded in 2018. It operates the first federally regulated exchange for trading on event outcomes. Kalshi has secured $151.5 million in total funding.

## Sectors

- FinTech
- Other

## People

- Tarek Mansour — Co-founder & CEO
- Luana Lopes Lara — Co-founder & COO

## Questions

### Who founded Kalshi and what are their backgrounds?

Tarek Mansour and Luana Lopes Lara co-founded Kalshi in 2018. Mansour previously worked in financial services and studied at MIT, while Lopes Lara also brings a background in finance and operations. Both hold executive roles at the firm — Mansour as CEO and Lopes Lara as COO — and have been the primary public-facing representatives of the company throughout its CFTC licensing process.

### What makes Kalshi's regulatory structure different from other prediction platforms?

Kalshi is a CFTC-designated Designated Contract Market, making it the only federally regulated exchange in the US where individuals can trade event contracts directly. That means it operates under the same regulator as the CME Group, rather than falling under SEC jurisdiction or operating offshore. Each contract is settled through Kalshi's clearinghouse, and the platform deals exclusively in US dollars — no cryptocurrency or offshore settlement mechanisms are involved.

### What types of event contracts does Kalshi offer?

Kalshi's contract categories span economics — including Federal Reserve interest-rate decisions, GDP growth figures, and inflation releases — as well as climate indicators, political outcomes, and cultural events such as Academy Award winners. Contracts are structured as binary all-or-nothing positions: a trader buys 'yes' on an outcome at a price between $0.01 and $0.99, and the contract settles at $1 if correct or $0 if not. All contracts are denominated and settled in fiat US dollars.

### How is Kalshi funded and who are its notable investors?

Kalshi has raised venture capital from a group of investors including Sequoia Capital, Charles Schwab, and Henry Kravis. The Sequoia investment is notable because Kalshi represents the first exchange in Sequoia's portfolio and, by Kalshi's own account, the first exchange Sequoia backed prior to launch (per the firm, 2021). Specific funding rounds and valuations beyond the disclosed investor list are not publicly detailed by the company.

### How does Kalshi make money on its contracts?

Kalshi generates revenue through a fee structure applied to trading activity on the exchange, though the specific fee schedule is not explicitly detailed in public communications. The exchange operates a central-limit order book where Kalshi acts as the clearing counterparty to all trades, earning fees from matched transactions rather than through market-making spreads. As a regulated exchange and clearinghouse, Kalshi's fee model is designed to fall within the standard practices for CFTC-supervised designated contract markets.

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Last updated: 2026-06-03T20:00:00.000Z

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