Kalshi confirms $1 billion raise that values the firm at $22 billion amid prediction market boom
Kalshi raised $1 billion at a $22 billion valuation, boosting institutional services amid a prediction market boom.Summary
Prediction market platform Kalshi has announced a $1 billion Series F funding round, valuing the company at $22 billion. The round was led by Coatue and included major investors like Sequoia Capital, Andreessen Horowitz, and Paradigm. This capital infusion will be used to enhance institutional services, such as block trading tools, broker integrations, and new risk products for asset managers and insurance firms. The fundraising occurs as prediction markets gain traction in both crypto and traditional finance, offering alternative methods for gauging probabilities and managing risk. Institutional trading volume on Kalshi surged 800% in the last six months, with annualized trading activity reaching $178 billion. Despite this growth, prediction markets face increasing regulatory scrutiny, with several states issuing cease-and-desist orders, which Kalshi contests by asserting its federal regulation under the CFTC.
(Source：CoinDesk)