Kalshi doubles valuation in 5 months, hitting $22 billion

Kalshi raised $1 billion in a Series F led by Coatue, lifting its valuation to $22 billion.

The new price tag doubles Kalshi’s valuation from $11 billion just five months ago.

Kalshi said annualized revenue has topped $1.5 billion, while institutional trading jumped 800% in six months.

The deal highlights booming investor appetite for prediction markets and Kalshi’s expanding lead in the category.