Kalshi valuation doubles to $22 billion in latest funding round: Bloomberg

Prediction market platform Kalshi Inc. secured more than $1 billion in a new funding round led by Coatue Management, which valued the company at $22 billion. This new valuation is double what it achieved in its previous $1 billion funding round in December, which was led by Paradigm and included major investors like Sequoia Capital and ARK Invest. The investment underscores strong investor interest despite regulatory scrutiny regarding insider trading and manipulation. Kalshi's trading volume surpassed $10 billion in February, twelve times its level six months prior, and its annualized revenue is reported to be $1.5 billion. Regulated by the CFTC, Kalshi offers contracts on real-world events nationwide, but it faces pushback from state regulators concerning sports-related betting products. Recently, Kalshi penalized users for insider trading and is facing legal challenges, including a denied attempt to block a restraining order in Nevada and criminal charges in Arizona accusing it of operating an illegal gambling business.

(Source：CoinDesk)