Kalshi just raised $1 billion in a Series F round, pushing its valuation to $22 billion. That’s double the $11 billion it was worth just five months ago.
The round, which closed on May 7, was led by Coatue with participation from Sequoia Capital, Andreessen Horowitz, Paradigm, IVP, Morgan Stanley, and ARK Invest.
The numbers behind the hype
Kalshi’s annualized trading volume jumped from $52 billion to $178 billion in roughly six months. Institutional trading volume surged 800% over the same period. The platform now commands over 90% of US prediction market activity.
CEO Tarek Mansour has suggested that event contracts could eventually become a trillion-dollar market.
