Prediction Market Kalshi Achieves $22B Valuation on Coatue-Led Series F Raise

Prediction market giant Kalshi has secured a massive $1B Series F raise, pushing the company’s valuation to $22B as institutional interest in event contract trading accelerates.

What's the Scoop?

• Monster Raise: Kalshi has raised $1B in fresh capital at a $22B valuation in its latest fundraising round led by Coateu Management, with participation from a slew of reputable including Sequoia Capital, Andreessen Horowitz, Paradigm, Morgan Stanley, and ARK Invest. The Wall Street Journal previously reported on the closure of this Series F round in March, which doubles Kalshi's Series E valuation from December and more than quadruples its Series D valuation disclosed last October.
• Prediction Behemoth: Kalshi says institutional trading volumes have surged 800% over the past six months, while annualized trading volume jumped from $52B to $178B during the same period. Kalshi now claims to process more than 90% of U.S. prediction market activity. In a comment to Bloomberg regarding this most recent raise, Kalshi represented its annualized revenues as having exceeded $1.5B.
• Hot Sector: The Information reported last month that Polymarket was in talks with investors to raise $400M raise at a $15B valuation as competition between the twin prediction market giants intensifies ahead of a possible U.S. relaunch.