Kalshi doubles valuation in 5 months, hitting $22B

Prediction market startup Kalshi announced on Thursday a $1 billion Series F round, valuing the company at $22 billion. That’s double the $11 billion valuation Kalshi nabbed just five months ago after raising a $1 billion Series E. This latest round was led by Coatue, with participation from Sequoia, Andreessen Horowitz, and Paradigm. 

The startup told Bloomberg that its annualized revenue exceeds $1.5 billion.