Prediction Market Kalshi Secures New Round of Over $10 Billion in Funding, Valuation Reaches $220 Billion

Odaily News: Prediction market platform Kalshi has completed a new funding round exceeding $10 billion, with its valuation reaching $220 billion, doubling from the $110 billion valuation in its previous round in December last year. Sources reveal that this round was led by Coatue Management, and Kalshi's current annualized revenue stands at $15 billion.

Founded in 2018, Kalshi saw a surge in popularity in 2024 after a court allowed it to offer election-related trading. The company operates as a CFTC-regulated financial exchange, enabling it to conduct business nationwide under federal rules. In February, its trading volume surpassed $100 billion, a 12-fold increase compared to six months prior. Despite recent criminal lawsuits and regulatory disputes filed by states like Arizona, investors remain enthusiastic about the rapidly growing market. (Bloomberg)