Kalshi doubles valuation to $22B in 5 months after $1B funding round

Prediction market startup Kalshi raised $1 billion in a Series F funding round, doubling its valuation to $22 billion just five months after its previous $11 billion valuation. The round was led by Coatue with participation from Sequoia, Andreessen Horowitz, and Paradigm. Kalshi's annualized revenue now exceeds $1.5 billion, driven by an 800% increase in institutional trading over six months. The company dominates 90% of U.S. prediction market activity, signaling strong growth and investor confidence in this emerging market sector.