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 round of funding exceeding $10 billion, with its valuation reaching $22 billion, doubling from the $11 billion valuation in its previous funding round last December. Informed sources revealed that this round was led by Coatue Management, and Kalshi's current annualized revenue stands at $1.5 billion.

Founded in 2018, Kalshi's popularity surged in 2024 after a court allowed it to offer election-related trading. The company operates as a financial exchange regulated by the CFTC, 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 charges and regulatory disputes filed by states like Arizona, investors remain enthusiastic about the rapidly growing market. (Bloomberg)