"Kalshi announced on Thursday a $1 billion Series F round, valuing the company at $22 billion. That's double the $11 billion valuation Kalshi nabbed just five months ago after raising a $1 billion Series E. This latest round was led by Coatue, with participation from Sequoia, Andreessen Horowitz, and Paradigm."
"The startup told Bloomberg that its annualized revenue exceeds $1.5 billion. Kalshi, alongside rival Polymarket, ushered in the boom in prediction markets where consumers place bets on everything, from what stars are wearing at the Met Gala, to which sports team will win the next game."
"In a blog post, Kalshi said that institutional trading on the platform has increased 800% in the past six months and that it hosts 90% of prediction market activity in the U.S. (Polymarket has been working to unroll remaining restrictions on its U.S. operations from a ban imposed in 2022.)"
Kalshi announced a $1 billion Series F round valuing the company at $22 billion, doubling its $11 billion valuation from a $1 billion Series E raised five months earlier. The round was led by Coatue, with participation from Sequoia, Andreessen Horowitz, and Paradigm. Kalshi reported annualized revenue exceeding $1.5 billion. The company operates in the prediction market space where consumers place bets on outcomes ranging from entertainment events to sports results. Kalshi stated that institutional trading on its platform increased 800% over the past six months and that it hosts 90% of prediction market activity in the U.S. Polymarket has been working to expand U.S. operations after restrictions imposed in 2022.
Read at TechCrunch
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