Since the 2024 presidential election, Kalshi has helped take prediction markets mainstream, as individual users have flocked to its platform to bet on sports, politics and more.
Now the company has raised more money as it seeks to make inroads with major financial institutions.
Kalshi plans to announce on Thursday that it has raised $1 billion in a new round of funding, led by the investment firm Coatue Management, that values the start-up at $22 billion. The round is the company’s third in seven months — each of which roughly doubled the company’s valuation. (The December round made Kalshi’s founders, Tarek Mansour and Luana Lopes Lara, billionaires on paper.)
