Kalshi Raises $1 Billion at $22 Billion Valuation as Institutional Trading Surges | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis
Prediction market platform Kalshi has closed a $1 billion Series F funding round at a $22 billion valuation, roughly doubling its worth from the $11 billion valuation it achieved just five months ago in its Series E raise.
The round was led by Coatue, with participation from a who’s who of institutional names, including Sequoia Capital, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, and ARK Invest, a lineup that underscores the growing appetite on Wall Street for exposure to the prediction markets space.
The announcement comes on the back of accelerating institutional demand. Kalshi said institutional trading volume on its platform has surged 800% over the past six months, while annualised trading volume has more than tripled, rising from $52 billion to $178 billion over the same period.
The New York-based company said it now accounts for over 90% of U.S. prediction market activity and holds the majority of global volume, positioning it as the dominant player in a category that is rapidly moving beyond its retail origins.
Proceeds from the raise will be used to deepen Kalshi’s institutional footprint, targeting hedge funds, asset managers, proprietary trading firms, and insurance companies. The company plans to expand its product suite, building on its recently launched block trading capabilities and developing upcoming risk products alongside deeper broker integrations.
Philippe Laffont, Founder of Coatue, said he expects institutions to follow the retail adoption curve. “Kalshi is building the leading platform for trading in real-world events. Consumers have already embraced it, and we believe institutions will follow.”
Tarek Mansour, co-founder and CEO of Kalshi, drew comparisons to the AI boom. “There are few categories in recent history that have scaled this quickly outside of AI,” he said. “Event contracts could become a trillion-dollar market, and we’re still in the early stages of that transition.”
