Prediction market platform Kalshi has reportedly raised more than $1 billion in a new funding round that values the company at $22 billion.
Bloomberg reported that the funding round was led by Coatue Management, citing a person familiar with the matter. The latest round roughly doubles Kalshi’s valuation from $11 billion.
The previous funding round in December 2025 was led by Paradigm and backed by Sequoia Capital, Andreessen Horowitz, and ARK Invest.
The fundraiser comes during a period of explosive growth for prediction markets. Kalshi’s monthly notional volume surged past $10 billion in February, according to Dune data, setting a new all-time high for the platform.
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Trading volume across the broader prediction market sector has also surged. The monthly volume exceeded $15 billion in March, marking a 665% year-over-year increase.
“Before the 2024 election, prediction markets were primarily a niche curiosity with weekly trading volumes hovering around $50 million. Today, prediction markets have over $6 billion in weekly trading volume: more than 100x in just over 24 months,” Venture capitalist and entrepreneur Chamath Palihapitiya wrote.
The sector’s rapid expansion has attracted significant institutional attention. A report from Eilers & Krejcik projects that prediction markets could reach $1 trillion in annual trading volume by the end of this decade.
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