Kalshi valued at $22B after $1B funding, driven by rising institutional demand for prediction markets.

Kalshi, a prediction market platform, raised $1 billion in a Series F funding round, doubling its valuation to $22 billion. The company plans to use the funds to expand adoption among institutional investors like hedge funds and asset managers, and to develop new products including block trading and risk management tools. Kalshi's trading volume has surged from $52 billion to $178 billion annually, with revenue exceeding $1.5 billion. Despite legal challenges in several states accusing it of illegal betting, Kalshi maintains it operates under federal regulation and continues to grow amid increasing institutional interest in event contracts for hedging and market signals.