Kalshi Secures $1 Billion Investment and Reaches a Valuation of $22 Billion

The Wall Street Journal: the Kalshi platform has secured another round of investments and reached a valuation of $22bn

Journalists from The Wall Street Journal claim that the company has secured an additional $1bn in investments as part of this round, led by the investment firm Coatue Management.

There is no official confirmation of this information from Kalshi, however, given the reputation of WSJ, this is almost a confirmed fact.

According to the publication, Kalshi has reached a valuation of $22bn (11 times more than 10 months ago), which is currently greater than the valuation of the world’s largest gambling company, Flutter Entertainment. By the way, the successes and popularity of Kalshi have a very negative impact on it.

How fair this valuation is, considering the more than 20 lawsuits against Kalshi in various states of the USA, the scandals surrounding insider trading on the platform, and ongoing disputes about the legal status of the business model, is a big question.

Nevertheless, major investors are «betting» their money that prediction markets are a new class of financial markets. If this hypothesis is confirmed, the current valuation may prove to be fair or even understated. If not, everything could collapse quite quickly.