Interactive Brokers Founder Sought to Acquire Kalshi in 2021, Kalshi's CEO Reveals

​Thomas Peterffy, founder and Chairman of Interactive Brokers, attempted to purchase the prediction markets platform Kalshi in 2021. Kalshi co-founder and CEO Tarek Mansour disclosed that Peterffy, accompanied by Sequoia partner Alfred Lin, made an offer at his home, which Mansour and co-founder Luana Lopes Lara declined.

Alfred Lin joined Kalshi's board following Sequoia's investment in the company's Series A round around that time. "At the time, Kalshi was very early — with very few users, very little volume, and almost no brand recognition. But Thomas saw the vision before most people did," Mansour stated in a LinkedIn post.

Kalshi has since grown into a major industry player, recently raising $1 billion at a $22 billion valuation in a funding round led by Coatue Management. Its competitor Polymarket is reportedly seeking a $20 billion valuation.

Founded in 2018, Kalshi gained prominence as prediction markets entered the mainstream, particularly around the last U.S. presidential election. While Polymarket initially led in election betting, Kalshi began offering such markets after winning a pivotal lawsuit against the Commodity Futures Trading Commission (CFTC).

Sports wagering remains Kalshi's largest market, drawing legal challenges from established sportsbooks and state regulators. Notably, the current CFTC leadership supports prediction markets and has sued states that ban them.

The platform's rise has led to partnerships with firms like Robinhood and Interactive Brokers to offer event contracts. Peterffy recently called prediction markets "a source of vital information" for clients, adding they need insights into global economic and demographic trends.