Kalshi valuation doubles to $22 billion as prediction market leader secures $1 billion Series F
The prediction market startup, which currently hosts 90 per cent of US activity in the sector, has seen its valuation rise from $11 billion just five months ago.
Prediction market operator Kalshi has announced a $1 billion Series F funding round that has doubled its company valuation to $22 billion. The capital injection, led by Coatue, marks a significant acceleration in growth for the firm, which previously valued itself at $11 billion following a Series E round just five months prior.
The latest financing round attracted participation from a roster of prominent venture capital firms, including Sequoia, Andreessen Horowitz, and Paradigm. This influx of capital underscores growing investor confidence in the sector, driven by Kalshi's reported expansion in both revenue and trading volume.
According to figures provided to Bloomberg, Kalshi's annualised revenue now exceeds $1.5 billion. The company attributes this financial expansion to a dramatic shift in its user base, noting that institutional trading on the platform has increased by 800 per cent over the past six months.
Kalshi currently maintains a dominant position in the domestic market, hosting 90 per cent of all prediction market activity in the United States. This market share distinguishes it from its primary rival, Polymarket, which has been working to lift remaining regulatory restrictions on its US operations following a ban imposed in 2022.
The platform's business model continues to evolve beyond traditional sports betting, encompassing a wide array of outcomes ranging from cultural events such as the Met Gala to specific sports results. This diversification has helped drive the recent boom in the industry, positioning Kalshi as the central hub for such speculative trading in the US.
While the specific methodology used to derive the $22 billion valuation was not detailed in the announcement, the metrics provided suggest a robust trajectory for the firm. The combination of high revenue figures and a massive surge in institutional participation points to a maturing market where professional traders are increasingly adopting prediction markets as a core component of their strategy.
