Kalshi raises over $1 billion at $22 billion valuation in ongoing Coatue-led round: reports

Prediction market platform Kalshi has raised more than $1 billion in a funding round spearheaded by Coatue Management, resulting in a valuation of approximately $22 billion. This new valuation nearly doubles the company's previous valuation from its November Series E round. Kalshi operates a federally regulated exchange allowing users to trade contracts based on real-world event outcomes, boasting an annualized revenue run rate of about $1.5 billion, driven by retail, institutional, and business participation.

The sector is experiencing rapid growth, but Kalshi faces increasing regulatory scrutiny regarding potential market manipulation. The company is currently battling legal challenges, including criminal charges from Arizona alleging it operates an illegal gambling business, which Kalshi disputes, asserting its contracts fall under CFTC derivatives regulation. Despite these regulatory headwinds, strong institutional engagement, evidenced by active market makers and new partnerships, suggests investors remain confident in Kalshi's growth trajectory.

(Source：The Block)