Kalshi announced the closing of a $1 billion Series F financing round, valuing the prediction market platform at $22 billion. The funding round was led by Coatue, with participation from Sequoia Capital, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, and ARK Invest.
Kalshi said the financing comes amid rapidly increasing institutional adoption of prediction markets and event contracts. According to the company, institutional trading volume increased 800% over the past six months.
The company also reported that annualized trading volume more than tripled during the same period, increasing from approximately $52 billion to $178 billion.
Kalshi said it currently accounts for more than 90% of U.S. prediction market activity and the majority of global prediction market trading volume.
The company said institutions are increasingly using event contracts to hedge real-world risks and access market-based forecasting signals tied to future events and outcomes.
Kalshi plans to use the new capital to expand institutional adoption across hedge funds, asset managers, proprietary trading firms, and insurance companies. The company also intends to continue expanding its product offerings, including recently launched block trading functionality, additional risk management products, and broker integrations designed for institutional trading workflows.
Kalshi operates a regulated prediction market platform where users trade contracts tied to the outcomes of political, economic, financial, weather, sports, and other real-world events.
KEY QUOTES:
“Kalshi is building the leading platform for trading in real-world events. Consumers have already embraced it, and we believe institutions will follow.”
Philippe Laffont, Founder, Coatue
“There are few categories in recent history that have scaled this quickly outside of AI. Event contracts could become a trillion-dollar market, and we’re still in the early stages of that transition.”
Tarek Mansour, Co-Founder And CEO, Kalshi
