WASHINGTON — Kalshi completed a Series F funding round on Tuesday, raising $1 billion at a valuation of $22 billion, according to the company. The exchange, known as a U.S.-regulated prediction market, secured the financing through a deal led by Coatue.
The latest valuation for Kalshi represents a 100 percent increase since December, when the firm was valued at $11 billion, per the company. Annualized revenue at Kalshi has surpassed $1.5 billion, driven by an 800 percent surge in institutional trading volume over the past six months.
Founded in 2018 by MIT alumni Tarek Mansour and Luana Lopes Lara, Kalshi overcame early regulatory hurdles to build its event contract markets in the United States. Regulatory approval now serves as a key differentiator against rival Polymarket, which remains barred from the U.S. market despite pursuing a $400 million funding round at a $15 billion valuation.
Participation in the Series F round included Sequoia, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, and ARK Invest, the company said in a statement. These institutional investors contributed to the total $1 billion capital injection, which doubles the company's valuation from $11 billion.
Kalshi will direct the new capital toward expanding broker integrations and developing risk-focused products for institutional clients over the next 12 months. The funds will also support the scaling of block-trading tools launched recently for larger investors navigating event contracts.
