BlockBeats News, May 7th, PredictIt-style prediction market platform Kalshi announced the completion of a new $1 billion funding round, led by Coatue Management, bringing its post-money valuation to $22 billion. This marks the company's third funding round in the past 7 months, with each valuation roughly doubling after each new round of funding. Currently, Kalshi has approximately 2 million monthly active users, with an annualized trading volume of $178 billion and annualized revenue exceeding $1.5 billion.

Kalshi is now setting its sights on large financial institutions, hoping to use them as a key growth engine in the future. Despite facing multiple lawsuits from US state regulatory agencies, the prediction market has rapidly become mainstream since the 2024 election.