Kalshi raises $1B, leads U.S. prediction markets

Kalshi raised $1B at a $22B valuation, driven by institutional growth. The platform leads U.S. prediction markets but faces regulatory hurdles in several states.

Kalshi, a leading prediction market platform, has secured $1 billion in a Series F funding round led by Coatue, raising its valuation to $22 billion. Notable investors such as Sequoia Capital, Andreessen Horowitz, Paradigm, IVP, Morgan Stanley, and ARK Invest also participated in the round. Over the past six months, Kalshi has seen an 800% surge in institutional trading volume, with annualized trading activity reaching $178 billion. The platform now claims 90% of U.S. prediction market activity and serves 2 million monthly users. With the new capital, Kalshi plans to expand institutional services, develop risk management products, and enhance infrastructure for hedge funds and asset managers. However, the company faces regulatory hurdles, as several U.S. states have issued cease-and-desist orders, resulting in ongoing legal battles.