The prediction market is no longer a niche phenomenon. By completing a billion-dollar funding round on May 7, 2026, Kalshi has just proven it in the most spectacular way possible. That's not all! In less than five months, the platform has also doubled its valuation. This increased from 11 to 22 billion dollars. A strong signal that institutional investors can no longer ignore!
In brief
- Kalshi completes a billion-dollar Series F.
- Its valuation today stands at $22 billion, doubled in five months.
- The annualized revenues of the prediction platform are estimated at more than $1.5 billion.
- Kalshi is federally regulated, but with 19 lawsuits pending in several US states.
When Wall Street bets on prediction markets
Not just anyone opens the checkbook. THE Kalshi Series F round was led by Coatue Management, with the participation of:
- Andreessen Horowitz;
- Sequoia Capital;
- Morgan Stanley;
- Ark Invest.
Andreessen Horowitz's crypto branch, a16z crypto, recently raised $2.2 billion for its latest fund. According to him, the prediction markets represent a major investment theme today.
Figures that make you dizzy
According to a official press releaseKalshi's annualized revenue rate exceeds $1.5 billion. And user appetite is not waning. In a single month, Kalshi and its rival Polymarket together concentrated most of the over $25 billion in volume traded on prediction markets.
Decryption: the sector is shifting into another dimension.
Polymarket is based on a decentralized blockchain infrastructure. Kalshi, however, operates a centralized and federally regulated marketplace. Which allows users to trade on the outcome of real events:
- elections;
- economic data;
- sport…
It is precisely this regulated framework which reassures institutions, and which makes the difference.
Kalshi recently appointed John Wang as head of crypto. Its ambition is clear: to integrate the Kalshi prediction markets in every major crypto application.
Growth under high legal tension
Unfortunately, Kalshi's expansion comes at a price. THE market leader in predictions is involved in at least 19 federal lawsuits. These relate to the legality of its event contracts with regard to state gambling laws.
Concretely, certain States contest its operations. This is particularly the case:
- from Massachusetts;
- from New Jersey;
- from Nevada;
- of Illinois.
Brazil is also added to the list.
To navigate these choppy waters, the prediction platform has recruited Stephanie Cutter as policy advisor. This is Obama's former advisor.
In any case, the prediction market is becoming one of the most dynamic segments of digital finance. And Kalshi, with a billion dollars in his pocket, intends to be its central pillar. The question is no longer whether this market will explode. It is to define how far. Especially since it is of increasing interest to major players.
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