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Kalshi’s CEO confirms the firm is considering an IPO, but will not go public in 2026.

2 hours ago

According to CNBC, Tarek Mansour, CEO of prediction market platform Kalshi, confirmed the company is in the early stages of potential IPO planning, but will not go public in 2026. Mansour noted it is reasonable to start considering an IPO given Kalshi’s current financial standing and growth rate. He said: "A company with our financial position and growth trajectory will have these discussions. People will start asking the question. We’re basically thinking about this, but obviously don’t have answers yet." Earlier, The Information reported that Kalshi was in early discussions about a potential IPO, with a possible listing timeline of late 2027 or 2028. Mansour did not provide a more specific timeline on Wednesday, only stating that an IPO will not occur in 2026. Kalshi has grown rapidly over the past year. At the end of June 2025, the company was valued at $2 billion; in May this year, Kalshi announced the completion of its Series F financing round, lifting its valuation to $22 billion. Prediction market observers point out that one factor driving the valuation increase is market opportunities brought by institutional traders. While retail users have fueled Kalshi’s growth, the company has begun adjusting its messaging and product development direction to boost its appeal to Wall Street. Regarding potential insider trading issues in prediction markets, Mansour said Kalshi has taken measures to enhance market integrity, including strengthening efforts to identify traders’ employers and enforcing KYC verification requirements. Kalshi has filed cases against individuals to show its efforts to curb insider trading concerns are working. Building market integrity for prediction market platforms is "a difficult problem, but not an impossible one."

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During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.

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Cathie Wood: Inflation Could Drop Sharply, 'Underlying Inflation' Is Only 0.5%

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STRC falls below $82, hitting a new all-time low.

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Trump refuses to sign the bill containing a CBDC ban, potentially affecting the progress of crypto market structure legislation.

U.S. President Donald Trump has refused to sign a bill containing a four-year central bank digital currency (CBDC) ban. The ban was included in a bipartisan housing affordability bill, which had been scheduled for a Wednesday signing ceremony. Trump posted on Truth Social that the event is "canceled with immediate effect" until Congress passes what he calls the "urgently needed" Save America Act. Trump’s suspension of the housing bill’s signing could deal a blow to the bipartisan-backed housing legislation and also impact the anti-CBDC camp. While the U.S. is not prepared to issue a CBDC in the near term, the crypto industry has long supported the four-year digital dollar ban in the bill, which runs through the end of 2030. Republicans argue that a digital dollar managed by the Federal Reserve could be used to monitor citizens’ finances. Last year, Trump also signed an executive order barring the U.S. from advancing a CBDC, stating that such a currency could threaten financial system stability, personal privacy, and U.S. sovereignty. Reports also note that if Trump delays congressional proceedings over this dispute, it could affect the Digital Asset Market Clarity Act (Clarity Act), a key priority for the crypto industry. The Senate has only about five weeks left before its summer recess, and further major delays would make it nearly impossible for the bill to become law in 2026.

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World Cup fever has pushed trading volume for Polymarket’s football prediction market up by 300%, while Kalshi’s open interest has topped $1 billion for the first time.

Driven by the World Cup, Polymarket's "Soccer" category saw trading volume exceed $2 billion in the first 10 days after the tournament kicked off, a 300% increase from the prior 10-day period. Meanwhile, the category's average daily trading volume rose from $53 million in the month before the World Cup to roughly $220 million so far during the event. Kalshi has also benefited from the World Cup hype. Data shows that Kalshi's aggregate open interest hit $1.16 billion last Thursday, a new all-time high and the first time the platform's open interest has crossed the $1 billion threshold. Year-to-date, Kalshi's open interest has grown by 350%. However, Polymarket's open interest has remained relatively stable during the World Cup; its open interest for its CFTC-regulated U.S. business has only seen modest growth, failing to reach its April 2026 high. In contrast, Kalshi's open interest has grown faster than its trading volume, indicating its users hold positions for longer periods and are starting to take larger directional bets, rather than just engaging in short-term trading.

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