Kalshi hits $22B valuation after closing $1B round — its third funding in seven months!

Prediction market platform Kalshi has closed a $1 billion funding round led by Coatue Management, pushing its post-money valuation to $22 billion. The raise is the company's third in just seven months, with valuations roughly doubling at each successive round.

The pace of capital formation is the headline detail here: tripling-plus in valuation across three consecutive rounds in under a year signals that institutional investors are treating regulated prediction markets as a structural growth category, not a speculative novelty.

Kalshi has been at the centre of a broader legitimisation arc for event-contract trading in the US, and this round suggests that narrative is now attracting serious late-stage growth capital at scale.