Kalshi doubles valuation to $22B in 5 months with $1B funding
Original: Kalshi doubles valuation in 5 months, hitting $22 billion
Why This Matters
Rapid valuation growth highlights mainstream adoption of prediction markets
Prediction market startup Kalshi raised $1 billion Series F round led by Coatue, doubling its valuation to $22 billion from $11 billion five months ago. The company reports annualized revenue exceeding $1.5 billion with 90% US prediction market share.
Kalshi announced a $1 billion Series F funding round on Thursday, achieving a $22 billion valuation that doubles its $11 billion valuation from just five months ago. The round was led by Coatue with participation from Sequoia, Andreessen Horowitz, and Paradigm. The prediction market startup, which competes with Polymarket, told Bloomberg its annualized revenue exceeds $1.5 billion. Kalshi said institutional trading on its platform increased 800% in the past six months and it hosts 90% of prediction market activity in the US. The platform allows users to bet on various outcomes from celebrity fashion choices to sports results. Polymarket remains restricted in US operations due to a 2022 ban but is working to remove those limitations.