Kalshi has confirmed its previously reported $22bn valuation following a $1bn Series F funding round, led by Coatue, with Co-Founder and CEO Tarek Mansour stating prediction markets are “still in the early stages.”
“There are few categories in recent history that have scaled this quickly outside of AI,” Mansour said.
“Event contracts could become a trillion-dollar market, and we’re still in the early stages of that transition.”
Notably, Kalshi’s $22bn valuation report comes less than 24 hours after former FanDuel CEO Amy Howe announced her departure from the operator, with President Christian Genetski now stepping into leadership.
Along with the valuation, Kalshi reported its institutional trading volume had reached $178bn as of April 2026, representing an 800% increase over the previous six months.
“Kalshi is building the leading platform for trading in real-world events,” Coatue Founder Philippe Laffont said.
“Consumers have already embraced it, and we believe institutions will follow.”
Kalshi also believes institutions have begun turning to event contracts to “hedge real-world risk and access continuous, market-based signals on future outcomes.”
The operator intends to use the $1bn Series F funding to scale adoption across hedge funds, asset managers, proprietary trading firms and insurance companies, as well as expand its product suite to integrate new block trading capabilities and risk protections.
Mansour reflected on Kalshi’s growth as part of a social media post on May 7, having said, “In 2018, we were two kids who loved math, markets, and debate. And we had a dream: build the next generation financial market, where we capture a broader set of questions and harness the power of the masses to price them better than Wall Street. Kalshi was born to fulfill that dream.
“What started as retail is quickly becoming institutional – hedge funds, asset managers, prop firms and insurers are beginning to trade, provide liquidity and hedge real-world risk directly. The scope and scale of prediction markets are just beginning to take shape. Prediction markets are moving from early adoption to core financial infrastructure. This is just the beginning.”
Global Gaming Insider previously offered insight into how sports betting operators such as FanDuel and DraftKings would respond to the prediction market’s valuation on March 20.
Kalshi partnered with Mesh to support cryptocurrency deposits and payouts across its prediction market platform on May 6, allowing users to fund accounts from more than 300 wallets and exchanges
