Prediction market startup Kalshi announced on Thursday that it has raised a $1 billion Series F funding round, doubling the company’s valuation to $22 billion just five months after its previous financing.
The latest round was led by Coatue Management and included participation from Sequoia Capital, Andreessen Horowitz, and Paradigm.
Kalshi had previously raised a $1 billion Series E round earlier this year at an $11 billion valuation.
According to Bloomberg, the company said its annualized revenue has surpassed $1.5 billion.
Prediction Markets Continue Expanding
Kalshi has become one of the largest companies operating in the growing prediction markets sector, where users place financial wagers tied to future outcomes across politics, sports, entertainment, economics, and current events.
The company, alongside competitor Polymarket, has helped drive broader interest in event-based trading platforms over the past year.
Users on these platforms can place trades on a wide range of outcomes, including election results, sporting events, and cultural moments such as celebrity appearances at the Met Gala.
Institutional Trading Growth Accelerates
In a blog post announcing the funding, Kalshi said institutional trading activity on its platform increased 800% during the past six months.
The company also stated that it now hosts approximately 90% of prediction market activity within the United States.
Polymarket, meanwhile, continues working to restore broader access to U.S. users after restrictions imposed following a regulatory ban introduced in 2022.
Kalshi’s latest funding round reflects continuing investor interest in financial trading platforms tied to prediction markets and event-based contracts.
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