Kalshi doubles the valuation in 5 months, hitting $22 billion

Kalshi basic market predictions was announced on Thursday $1 billion Series F round, taking the company to $22 billion. That’s it double the cost of $ 11 billion Kalshi was snapped up five months ago after raising a $1 billion Series E. This latest round was led by Coatue, and participation of Sequoia, Andreessen Horowitz, and Paradigm.

Introduction told Bloomberg that its annual revenue exceeds $1.5 billion.

Kalshi, along with his partner Polymarket, launched a betting market where consumers bet on everything from what stars will wear to the Met Gala, to which sports team will win the next game.

In a blog post, Kalshi said that agency sales on the platform have increased by 800% in the last six months and that they account for 90% of forecast market activity in the US (Polymarket has been working to remove the remaining restrictions on its US operations from the ban that was implemented in 2022.)