Kalshi achieves a valuation of $22 billion after a $1 billion funding round.

Kalshi has just reached a valuation of $22 billion after raising an additional $1 billion in a Series F funding round led by Coatue. This is the third Capital round for the prediction market platform in just seven months.

According to the announcement , Sequoia Capital, Andreessen Horowitz (a16z), IVP, Paradigm , Morgan Stanley, and ARK Invest also participated in this Capital round.

Kalshi said the new Capital will be used to expand its institutional client base, including hedge funds, asset management firms, proprietary trading firms, and insurance companies. The company is also upgrading its newly launched Block trading platform, developing additional risk management products, and integrating more deeply with brokerage firms to better serve institutional clients.

Philippe Laffont (founder of Coatue) says Kalshi is building a “leading platform” for trading real-world events: individual users have embraced it, and they believe the institutional sector will soon follow.

Kalshi said the Capital round comes after a period of strong growth: institutional trading Volume has increased by 800% in the past six months. The company also said its annualized trading Volume more than tripled, from $52 billion to $178 billion during the same period, and Kalshi now accounts for more than 90% of the prediction market activity in the US.

CEO Tarek Mansour noted that this is one of the few rapidly developing fields (besides AI), and that event contracts could become a trillion-dollar market – but it is still only in its early stages.

Industry data also shows that Kalshi isn't the only one experiencing a boom. According to a joint report by Polymarket and Bitget Wallet, the total Volume of the prediction market reached $25.7 billion in March, up 10.6% from February. The report indicates that retail trading remains the main driver (82.3% of users traded under $10,000), while sports-related and crypto contracts are dominating, with first-quarter Volume of $10.1 billion and $7.3 billion respectively.