Kalshi banked $1 billion (≈ €928M) Series F funding led by Coatue to scale its event-driven exchange. High-profile venture firms Sequoia, Andreessen Horowitz, and Paradigm also participated in the round, which values the company at $22 billion.
The company operates a regulated exchange where users trade on the outcome of real-world events. These "event contracts" allow participants to hedge against or speculate on topics ranging from economic indicators and Federal Reserve interest rate hikes to pop culture milestones and sporting results. Kalshi currently claims to host 90% of prediction market activity in the US.
This capital injection follows a rapid valuation climb, doubling its $11 billion price tag from five months ago. The company reports that institutional trading volume on the platform has increased 800% in the last six months, contributing to an annualised revenue run rate exceeding $1.5 billion. While headquartered in the US, Kalshi's growth reflects a global surge in liquidity for prediction markets as an emerging asset class.
The massive scale of this round highlights how sophisticated financial infrastructure is increasingly migrating toward binary, event-driven outcomes to capture high-frequency retail and institutional demand.
Originally reported by TechCrunch.