Prediction Market Kalshi Secures New Funding Round Exceeding $1 Billion, Valuation Reaches $22 Billion

Odaily reports that prediction market platform Kalshi has completed a new funding round exceeding $1 billion, with its valuation reaching $22 billion, doubling from the $11 billion valuation in its previous funding round in December last year. Sources familiar with the matter revealed that this round was led by Coatue Management, and Kalshi's current annualized revenue stands at $1.5 billion.

Founded in 2018, Kalshi saw a surge in popularity in 2024 after a court allowed it to offer election 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 $10 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)