Kalshi, the Prediction Market, Raises $1 Billion at a $22 Billion Valuation
The New York Times • • business
Key Points:
- Kalshi, a prediction markets platform, has raised $1 billion in a new funding round led by Coatue Management, valuing the company at $22 billion.
- This is Kalshi’s third funding round in seven months, with each round roughly doubling its valuation and making the founders billionaires on paper.
- The platform has gained popularity since the 2024 presidential election, attracting around two million monthly users betting on sports, politics, and various events.
- Kalshi's annualized trading volume has surged to $178 billion, more than tripling in six months, with an estimated annual revenue exceeding $1.5 billion.
- Despite regulatory challenges and concerns about insider trading, investor interest in prediction markets remains strong, fueling Kalshi’s rapid growth.
