Kalshi Raises $1B at $22B Valuation in New Funding Round: WSJ

Citing sources familiar with the matter, multiple news outlets have reported that prediction market platform Kalshi is raising its second billion dollar round, this time at a $22B valuation.

What's the Scoop?

• Recent Raise: According to reporting from multiple news outlets, including Bloomberg and The Wall Street Journal, prediction market Kalshi has raised raised more than $1B in its latest funding round, which was led by Coatue Management and values the firm at $22B (double the valuation ascribed by Kalshi's previous $1B raise in December).
• Nevada Troubles: Yesterday, a federal appeals court denied Kalshi's attempt to block the Nevada Gaming Control Board from issuing a temporary restraining order against its prediction markets in the state. Today, following that decision, a Nevada court sided with the state, issuing an order to prohibit Kalshi from offering event-based contracts on sports, politics, and entertainment to Nevada residents without first obtaining the required licenses.