Kalshi Raises $1 Billion at $22 Billion Valuation

Kalshi has raised $1 billion in an investment round led by Coatue, confirming a report that first circulated weeks ago. The funding values the prediction market platform at $22 billion. The $22 billion valuation is double what Kalshi was worth in December, according to The New York Times.

The rapid increase reflects sustained investor confidence in the sector even as regulatory questions around prediction markets persist. Kalshi confirmed the details of the round in a statement. The company, which allows users to trade on the outcomes of events ranging from elections to economic indicators, has seen its profile rise sharply in recent years.

The investment round led by Coatue closes one of the largest funding deals in the prediction market space to date. With the new capital, Kalshi now holds a valuation that places it among the most valuable private fintech companies in the United States. The report of Kalshi raising $1 billion had circulated for weeks before the company chose to confirm it.

That delay between initial reports and official acknowledgment is not uncommon in large private funding deals as parties finalize terms. Prediction markets have drawn both interest and scrutiny. Platforms like Kalshi operate by letting participants buy and sell contracts tied to real-world outcomes, with prices reflecting collective probabilities.

The latest round comes as Kalshi continues to expand its offerings. Its growth trajectory has outpaced many traditional financial technology firms, doubling in value in roughly five months. Coatue's leadership of the round signals strong backing from a major hedge fund known for technology investments.

The participation of such an investor adds credibility to the prediction market model's long-term viability. Kalshi's confirmation brings finality to months of speculation about its valuation. At $22 billion post-money, the company has cemented a significant position in the evolving landscape of event-based trading.