Kalshi is reportedly exploring an IPO after doubling its valuation to $22 billion, even as states challenge sports event contracts in court.

Prediction market Kalshi is generating more than $2 billion in annualized revenue, up about three times from November, as traders betting on NBA and World Cup games drove a surge…

The prediction markets platform raised $1 billion in a Series F round in May, bringing its valuation to $22 billion.