Kalshi has sent Democratic influencer Elizabeth Booker a cease-and-desist order after Booker posted a video criticizing prediction markets.Elizabeth Booker, who is better...
Kalshi doubles valuation to $22B in latest funding round
According to sources quoted in the Wall Street Journal, a new $1 billion financing round led by investment company Coatue Management has pushed Kalshi to reach a valuation of $22 billion.
The $22 billion valuation means that Kalshi has surpassed the worth of Flutter Entertainment, the most valuable online gaming business globally before now. Additionally, the only larger market cap business is integrated resort giant Las Vegas Sands, which is worth $36 billion.
During its last funding round in December 2025, which was led by Paradigm and venture capital firms like Sequoia Capital, ARK Invest, Andreessen Horowitz, and CapitalG, Kalshi had also raised $1 billion.
In February 2026 alone, the platform reached $10 billion in trading volume, and if the current $22 billion valuation is accurate, then it means that Kalshi has doubled its previous $11 billion valuation in just a few months.
Kalshi is the biggest prediction market in the U.S., thanks to the Commodity Futures Trading Commission’s (CFTC) approval to legally offer its services as an exchange, and the valuation news comes at a time when the platform is competing with its biggest rival, Polymarket, for the title of the top prediction market, as both were looking at $20 billion valuations according to March 2026 estimates.
Robinhood has announced plans to restrict some forms of prediction markets, particularly mention markets, over concerns about insider trading and market manipulation.
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