Kalshi’s valuation reached $22 billion following a $1 billion Series F led by Kuato, doubling its value in just five months.
summary
- Calci raised $1 billion in a Series F round led by Kuato at a valuation of $22 billion, double the $11 billion it raised just five months ago.
- Institutional trading volume on the platform rose by 800% in six months, while annual trading volume tripled from $52 billion to $178 billion.
- Kalshi accounts for over 90% of US prediction market activity and has annual revenue of $1.5 billion with 2 million monthly users.
Kalshi’s valuation reached $22 billion following a $1 billion Series F led by Kuato, doubling its value in just five months. New York-based prediction market platform certain The round is on May 7, formalizing a Bloomberg report issued in March. Sequoia Capital, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley and ARK Invest all participated in the raise.
The round is Calcci’s third in seven months, with each successive raise roughly doubling its value. The company was valued at $5 billion in a $300 million round less than two months before its $11 billion Series E, making its current valuation of $22 billion four times what it was nearly a year ago.
CEO of Kalshi Company, Tariq Mansour He said In a statement: “Few categories in recent history have scaled this quickly beyond AI. Event contracts have the potential to become a trillion-dollar market, and we are still in the early stages of this transformation.”
What the growth numbers show
The platform’s annual trading volume has more than tripled within six months, rising from $52 billion to $178 billion. Institutional trading volume specifically increased by 800% during the same period.
Calci says it accounts for more than 90% of U.S. prediction market activity and generates $1.5 billion in annual revenue from 2 million monthly users.
Calci will use the new capital to expand adoption across hedge funds, asset managers, proprietary trading firms, and insurance companies, and will expand its product suite including recently launched crowd trading capabilities and deeper broker integrations.
Such as crypto.news I mentionedthe first dedicated institutional block trade for Calcci, brokered by Greenlight with Jump Trading providing liquidity on a carbon allowance contract, represents a marked shift towards direct event risk exposure to large institutional players.
Regulatory headwinds remain
The growth comes against an ambiguous regulatory backdrop. Nevada, New Jersey, Illinois, and many other states have it Issued Cease and desist orders or launched legal challenges against Calci, arguing that some of the event contracts resembled unlicensed sports betting.
Calci responded by saying that its exchange falls under the supervision of the Commodity Futures Trading Commission (CFTC) and that challenges at the state level are judicially misplaced.
The SEC also delayed more than two dozen proposed market-traded funds this week, asking issuers for more information about mechanisms and investor disclosures.
Such as crypto.news trackingCalci is also exploring cryptocurrency futures as its next expansion step, a product that would put it in direct competition with Binance, Coinbase, and Kraken in derivatives trading.
