Prediction market startup Kalshi announced a substantial $1 billion Series F funding round, propelling the company’s valuation to an impressive $22 billion. This marks a significant leap from the $11 billion valuation achieved just five months prior when it raised a $1 billion Series E. The Series F round was led by Coatue, with notable contributions from Sequoia, Andreessen Horowitz, and Paradigm.
According to reports from Bloomberg, Kalshi is generating annualized revenue exceeding $1.5 billion, reflecting robust growth in its operations.
Kalshi, in tandem with competitor Polymarket, has been at the forefront of the burgeoning prediction markets sector, enabling consumers to place bets on a wide array of topics ranging from celebrity fashion choices at events like the Met Gala to outcomes of sports competitions.
In a recent blog post, Kalshi revealed that institutional trading on its platform has surged by 800% over the last six months. Kalshi also highlighted that it currently manages an impressive 90% of prediction market activity in the U.S. In contrast, Polymarket continues to navigate regulatory challenges to fully resume its U.S. operations, following a ban implemented in 2022.
