Kalshi Hits $22 Billion After $1B Raise While Fighting 19 Lawsuits
Prediction market platform Kalshi has reached a $22 billion valuation after closing a $1 billion Series F funding round, doubling its value in just five months. The round was led by Coatue Management and included major investors such as Andreessen Horowitz, Sequoia Capital, Morgan Stanley, and Ark Invest. Their participation signals growing confidence from both Wall Street and Silicon Valley in regulated prediction markets, even as the sector faces mounting legal scrutiny. A Kalshi spokesperson told Bloomberg that the companys annualized revenue has already surpassed $1.5 billion. Together, and accounted for most of the more than $25 billion traded across last month. Unlike Polymarket, which operates on decentralized blockchain infrastructure, Kalshi is a centralized and federally regulated platform. Users can trade on the outcomes of real-world events, including elections, economic data releases, and sports events. That structure has helped attract institutional interest, particularly from investors looking for hedging tools tied to political, macroeconomic, and geopolitical developments rather than purely speculative bets. Wall Streets Interest in Prediction Markets Keeps Growing Institutional enthusiasm for the sector continues to accelerate. Bernstein Research recently described prediction markets as entering an “institutional era,” driven by demand for contracts linked to major economic and geopolitical risks. Kalshi is also pushing deeper into crypto.