Kalshi has secured $1 billion in a Series F funding round, bringing its post-money valuation to $22 billion. The round was led by Coatue Management with participation from Sequoia Capital, Andreessen Horowitz, Morgan Stanley, and ARK Invest. Institutional trading volume on the platform has surged 800% over the last six months, driving annualized volume to $178 billion.
Kalshi, the federally regulated prediction market, announced Thursday that it has raised $1 billion in a Series F funding round, catapulting its valuation to $22 billion. This latest capital infusion, led by Coatue Management, marks a significant milestone for the New York-based firm, which has seen its valuation double from $11 billion just five months ago. The round also saw participation from heavyweights including Sequoia Capital, Andreessen Horowitz (a16z), IVP, Paradigm, Morgan Stanley, and ARK Invest.
The massive raise comes as institutional adoption of event contracts accelerates. Kalshi reported that institutional trading volume has grown by 800% in the past six months, while the platform’s overall annualized trading volume has tripled, rising from $52 billion to $178 billion. A company spokesperson noted that Kalshi’s annualized revenue run rate has now surpassed $1.5 billion, solidifying its position as a dominant force in the rapidly expanding prediction market sector.
“There are few categories in recent history that have scaled this quickly outside of AI,” said Tarek Mansour, co-founder and CEO of Kalshi. “Event contracts could become a trillion-dollar market, and we’re still in the early stages of that transition.” The company intends to use the new funds to scale adoption among hedge funds, asset managers, and insurance companies, as well as to expand its product suite with new block trading capabilities and risk management tools.
While competitors like Polymarket operate on decentralized infrastructure, Kalshi’s status as a CFTC-regulated exchange has made it a preferred venue for domestic institutions looking to hedge real-world risks through market-based signals. Philippe Laffont, founder of Coatue, noted that while consumers have already embraced the platform, the firm believes Wall Street institutions are the next major growth driver for the ecosystem.
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