Kalshi Raises $1 Billion to Double Valuation to $22 Billion: Reports
Kalshi, a major prediction market platform, has raised $1 billion in a recent funding round, bringing its valuation to $22 billion—double its previous $11 billion valuation from December. The latest round was led by Coatue Management, following earlier investments from Paradigm, Ark Invest, Andreessen Horowitz, and Sequoia Capital. The prediction market industry is experiencing rapid growth, with market size projected to reach $95.5 billion by 2035. Launched in 2021, Kalshi faced regulatory challenges when the CFTC attempted to block its election contracts. After a favorable district court ruling in September 2024 and the CFTC’s voluntary dismissal of its appeal in May 2025, Kalshi gained clearance to offer election contracts, spurring significant fundraising. In the past year, Kalshi raised $185 million at a $2 billion valuation, then $300 million at $5 billion, and reached unicorn status. Its rival, Polymarket, also achieved a $9 billion valuation after a $2 billion investment by Intercontinental Exchange in October 2025.
