BroadChain has learned that on March 20, Bloomberg reported prediction market platform Kalshi has secured a new funding round exceeding $1 billion. The investment values the company at $22 billion, doubling its $11 billion valuation from its previous round in December 2025.
Sources familiar with the deal indicate that Coatue Management led this funding round. Kalshi's current annualized revenue has reportedly reached $1.5 billion.
Founded in 2018, Kalshi saw a significant surge in popularity in 2024 after receiving court approval to offer election-based trading. As a CFTC-regulated financial exchange, it operates nationwide under federal rules. By February 2026, its trading volume had surpassed $10 billion—a figure twelve times higher than it was just six months prior.
Despite facing recent criminal lawsuits and regulatory scrutiny, including actions filed by the state of Arizona, investor enthusiasm for this rapidly expanding market remains strong.