Kalshi Hits $22 Billion Valuation After $1 Billion Series F Raise

According to Bloomberg, prediction market platform Kalshi has reached a $22 billion valuation after closing a $1 billion Series F funding round just five months after its previous raise, doubling its value. The round was led by Coatue Management and included major investors such as Andreessen Horowitz, Sequoia Capital, Morgan Stanley, and Ark Invest.

Kalshi's annualized revenue has already surpassed $1.5 billion, according to a company spokesperson. Despite strong investor backing, the platform is currently facing at least 19 federal lawsuits, with authorities in multiple states arguing that some of Kalshi's contracts resemble unlicensed gambling products.