Kalshi valued at US$22 billion in latest funding round

Prediction market platform Kalshi said on Thursday it had raised US$1 billion (HK$7.8 billion) in its latest funding round, which valued the company at US$22 billion, as institutional investors increasingly adopt event-based trading contracts.

The round was led by Coatue with participation from Sequoia Capital, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, and ARK Invest.

Kalshi said it plans to use the proceeds to expand adoption among hedge funds, asset managers, proprietary trading firms, and insurance companies.

Platforms such as Kalshi and rival Polymarket allow users worldwide to trade binary contracts on outcomes in politics, sports, economics and entertainment. The model has drawn strong backing for its event-based trading and risk management approach.

Reuters

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