The Information · Andreessen Horowitz · Crypto Briefing
Last month, Kalshi raised $1 billion at a $22 billion valuation in a funding round led by Coatue
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◎ Multiple-sources
Top executives at Kalshi have engaged in early, informal talks with investment banks about a future IPO, The Information reported today, citing people close to the company’s financials.
Key facts
- The latest development comes as the prediction market platform reached a $22 billion valuation after closing a $1 billion financing led by Coatue and supported by investors including Sequoia Capital
- The company said its institutional trading volume had jumped 800% in the six months ending in early May, helping annualized trading volume increase from $52 billion to $178 billion
- Last month, Kalshi raised $1 billion at a $22 billion valuation in a funding round led by Coatue
- The interest follows a sharp run-up in business at the top prediction market company, which is generating annualized revenue north of $2 billion, about three times what it was in November
Summary
Last month, Kalshi raised $1 billion at a $22 billion valuation in a funding round led by Coatue. The interest follows a sharp run-up in business at the top prediction market company, which is generating annualized revenue north of $2 billion, about three times what it was in November, after a wave of NBA and World Cup betting boosted trading volume. As part of the IPO discussions, Kalshi is asking prospective advisers to integrate with its platform, giving banks’ institutional clients access to trade on it, according to the report. Any public listing is still likely at least a year away, with late next year or 2028 the expected timeframe.