sam_dev 
The prediction market platform Kalshi has made headlines by successfully raising $1 billion in a Series F round led by Coatue, bringing the company’s valuation to $22 billion. This marks Kalshi’s third funding round in just seven months, highlighting the explosive growth of the market for trading predictions on real-world events.
This funding round attracted participation from numerous top investment funds on Wall Street and Silicon Valley, including Sequoia Capital, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, and ARK Invest. The presence of major names in both traditional finance and crypto indicates that the prediction market is gradually becoming a compelling new investment sector.
The new capital will be used by Kalshi to expand its institutional client base, including hedge funds, asset management companies, proprietary trading firms, and insurance companies. The company is also developing block trading features, building new risk management products, and integrating more deeply with brokerage systems to serve institutional investors. According to Philippe Laffont, founder of Coatue, Kalshi is building a leading real-world event trading platform, where individual users have quickly embraced it, and institutional capital is expected to follow soon.
Internal data shows that trading volume from institutional clients on Kalshi has increased by up to 800% in just the past six months. The platform’s total annual trading volume rose from $52 billion to $178 billion during the same period. Currently, Kalshi accounts for over 90% of prediction market activity in the U.S., a figure that demonstrates the company’s near-monopoly position in this market. CEO Tarek Mansour believes that event contracts could become a trillion-dollar market in the future, and the industry is still in its infancy.
The surge of Kalshi also reflects the overall growth trend of the entire industry. A joint report from Polymarket and Bitget Wallet indicates that the total trading volume of the prediction market reached $25.7 billion in March, up more than 10% from the previous month. Retail investors remain the dominant force, with over 82% of users trading under $10,000, but contracts related to sports and crypto are leading in liquidity, reaching $10.1 billion and $7.3 billion, respectively, in Q1.
According to data from The Block, the cumulative trading volume of Kalshi and Polymarket hit $150 billion last month. While Kalshi is dominating the U.S. market, Polymarket—a platform with a global reach—is reportedly negotiating with investors to raise $400 million at a valuation of around $15 billion in preparation for re-entering the U.S. market.
