Kalshi Hits $22 Billion Valuation After Massive $1 Billion Series F Funding Round

Kalshi Closes Series F Funding Round, Reaches $22 Billion Valuation

Event markets, commonly known as prediction markets, keep growing at exponential levels and are now targeting institutions to maintain momentum.

Kalshi, one of the largest prediction market platforms, has closed its series F funding round, raising $1 billion to cement its expansion in the institutional market. The round, led by Coatue with participation of Sequoia Capital, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, and ARK Invest, assigned it a valuation of $22 billion.

The $22 billion figure doubles the company’s valuation from the previous funding round in December, when it reached $11 billion.

Kalshi will leverage the funds raised to “scale adoption across hedge funds, asset managers, proprietary trading firms, and insurance companies,” aiming to entice these institutions to enter prediction markets and attract trillions in capital. To this end, the company will expand its trading suite to include products tailored to satisfy institutional demand.

Institutional demand has skyrocketed, as total volumes traded by institutions have increased 800%. Also, Kalshi’s annualized volume has reached $178 billion, more than tripling the amount registered in the first 6 months of 2025.

The fund injection comes at a pivotal time for the company, which is currently battling several lawsuits across America as state regulators seek to apply local gambling laws to prediction markets. Nonetheless, the Commodity Futures Trading Commission (CFTC) argues it has exclusive oversight over event markets.

Tarek Mansour, co-founder and CEO of Kalshi, estimated that the prediction markets still had room for growth, as they have not yet hit mainstream adoption.

“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,” Mansour declared.