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22h ago

Kalshi Raises $1 Billion at $22 Billion Valuation After Institutional Trading Surge

The raise signals Wall Street’s growing use of regulated event contracts for hedging.

Kalshi confirms $1 billion raise at $22 billion valuation amid prediction market boom
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Kalshi surges to $22 billion as wall street scoops up crypto talent
Kalshi hits $22 billion valuation after massive $1 billion series f funding round

Overview

  • Kalshi, which announced the Series F on Thursday, raised $1 billion at a $22 billion valuation led by Coatue with Sequoia, Andreessen Horowitz, Paradigm, IVP, Morgan Stanley and ARK Invest.
  • The exchange operates under federal CFTC oversight and lets people trade yes-or-no contracts that pay out if real-world events occur, such as elections, economic data or sports results.
  • The company reports an 800% jump in institutional activity over six months and annualized trading volume up to $178 billion, with 2 million monthly users and roughly 90% of U.S. market share.
  • Kalshi says it will build block trading, broker integrations and new risk tools to serve hedge funds, asset managers, proprietary trading firms and insurance companies.
  • State regulators in places such as Nevada, New Jersey and Illinois have challenged parts of the platform as gambling, and the federal government has sued several states to assert CFTC authority over event contracts.