Kalshi reaches $22B valuation after doubling in five months

Prediction market startup Kalshi announced that it has raised a massive $1 billion in Series F funding, pushing the company’s valuation to $22 billion. The new valuation marks a dramatic jump from the $11 billion valuation Kalshi secured just five months ago after closing its $1 billion Series E round. The latest investment round was led by Coatue, with additional participation from major investors including Sequoia, Andreessen Horowitz, and Paradigm.

Kalshi also revealed to Bloomberg that its annualised revenue has now surpassed $1.5 billion, highlighting the rapid growth of the prediction market industry as more users and institutional traders enter the space.

Alongside competitor Polymarket, Kalshi has played a major role in driving the recent boom in prediction markets, where users place bets on a wide range of outcomes. These markets cover everything from politics and financial events to entertainment and sports, including topics such as what celebrities wear at the Met Gala or which team will win upcoming sporting events.

In a blog post published alongside the funding announcement, Kalshi said institutional trading activity on its platform has surged by 800% over the past six months. The company also claimed that it now hosts approximately 90% of all prediction market activity in the United States.

Meanwhile, rival platform Polymarket continues to expand its presence in the U.S. market after facing regulatory restrictions that led to a ban on its U.S. operations in 2022. Kalshi’s latest valuation surge reflects growing investor confidence in prediction markets as the sector continues attracting both retail and institutional users looking to trade on real-world events and outcomes.