Kalshi closes $1 billion raise at $22 billion valuation as Wall Street piles in
Kalshi raised $1 billion at a $22 billion valuation, driven by increased institutional investment and plans for expansion.Summary
Prediction market platform Kalshi has successfully closed a $1 billion funding round, achieving a valuation of $22 billion. The round was led by Coatue and saw significant participation from major investors including Sequoia Capital, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, and ARK Invest. This substantial investment comes amid an 800% surge in institutional trading volume on the platform over the past six months. Kalshi now claims over 90% of US prediction market activity and leads in global trading volume, with annualized volume growing from $52 billion to $178 billion. The company attributes this growth to the increasing mainstream adoption of event contracts by institutions for hedging and market signaling. The newly acquired funds will be allocated towards expanding its reach within hedge funds, trading firms, asset managers, and insurance companies, as well as further developing its block trading infrastructure, risk products, and broker connectivity.
(Source：Crypto Briefing)