Prediction Market Kalshi Secures $1.12 Billion in Equity Funding

The filing, submitted on August 25, provides a window into the company's aggressive fundraising trajectory throughout a year defined by surging trading volumes and institutional interest. While the document does not explicitly delineate which specific financing rounds comprise the $1.12 billion total, it arrives on the heels of a $1 billion Series F round led by Coatue in May. That transaction, which included participation from Sequoia Capital, Andreessen Horowitz, and Morgan Stanley, valued the firm at $22 billion.

Activity on the platform has accelerated significantly, with July trading volume hitting approximately $40 billion, outpacing competitors like Polymarket. This growth is bolstered by the company's expansion into regulated perpetual futures for assets such as Bitcoin and Ethereum, alongside its core event contracts. Reports suggest the firm is now in advanced discussions to raise an additional $750 million, a move that would push its valuation toward the $40 billion mark. As Kalshi navigates regulatory scrutiny regarding its sports-linked markets and ongoing litigation with state authorities, it has also reportedly engaged in early-stage discussions with investment banks regarding a potential initial public offering.