The Kalshi logo arranged on a laptop in New York, USA on Monday, February 10, 2025.
Gabby Jones | Bloomberg | Getty Images
Nearly half of Kalshi users experienced issues and delays Saturday during college football games, a major source of trading, as some reported being temporarily unable to process orders.
In a message sent to a user obtained by CNBC, the market prediction service’s website apologized for any inconvenience and said it was “looking into” the issues traders were experiencing.
“The Exchange is experiencing temporary delays,” the message read. “Balances and positions may not be accurately reflected at this time.”
One user shared a screen recording and screenshots with CNBC showing they couldn’t see their balance or bets while the issues persisted.
A number of users on When CNBC visited the website, it wouldn’t load, showing only a green K surrounded by a spinning circle for more than 20 minutes. The platform was then loaded.
“Earlier today, Kalshi experienced minor issues that temporarily impacted some user experiences. No exchange interruptions occurred, no funds were affected, and the issues are now resolved,” the company said in a statement.
Earlier, a spokesperson denied there was an outage and said the exchange “never stopped working properly.” He added that there has been no impact on clearing, advanced trading or institutional trading.
“There have been some issues and delays across our web product and apps, which have affected less than half of our user base,” the spokesperson said.
Just over a week ago, Kalshi announced a $300 million Series D funding round that valued the company at $5 billion, more than double its $2 billion valuation in June after its Series C round.
The round was co-led by Andreessen Horowitz (a16z) and Sequoia Capital, with participation from Paradigm. Other backers included Coinbase Ventures, General Catalyst, Spark Capital and CapitalG.
The company, founded in 2018, rose to prominence by offering bettors the ability to trade on a wide range of real-world events, from football matches to whatever pardon President Donald Trump might issue this year.
WATCH: Kalshi CEO on $2 Billion Valuation: We’re One of the Fastest Growing Companies in America
