Kalshi’s $1.5B equity offering is three-quarters sold at $1.12B

Prediction market operator Kalshi disclosed that $1.12 billion has been sold under a $1.5 billion equity offering that began in April, according to a filing with the US Securities and Exchange Commission (SEC).The Form D, filed Tuesday, lists 71 investors and identifies April 3 as the date of the first sale. About $380 million remains to be sold under the offering.The filing identifies the securities as equity and says Kalshi is relying on Rule 506(b) of Regulation D, an exemption that allows companies to sell securities without registering them with the SEC, subject to certain requirements.Source: SECKalshi announced a $1 billion Series F funding round in early May at a $22 billion valuation.The Form D does not state whether the reported offering is the Series F. Cointelegraph contacted Kalshi for clarification but had not received a response by publication.The filing comes as Kalshi faces legal challenges from US states over its offerings. In mid-August, a Washington state judge ordered the platform to stop offering a broad range of event contracts in the state, rejecting Kalshi’s argument that federal law overrides the state’s gambling laws.Related: NYC council announces probe i...