Kalshi Raises $1B at $22B Valuation in New Funding Round: WSJ

Prediction market platform Kalshi has secured over $1 billion in its latest funding round, led by Coatue Management.

Citing sources familiar with the matter, multiple news outlets have reported that prediction market platform Kalshi is raising its second billion dollar round, this time at a $22B valuation.

What’s the Scoop?

• Recent Raise: According to reporting from multiple news outlets, including Bloomberg and The Wall Street Journal, prediction market Kalshi has raised raised more than $1B in its latest funding round, which was led by Coatue Management and values the firm at $22B (double the valuation ascribed by Kalshi’s previous $1B raise in December).
• Nevada Troubles: Yesterday, a federal appeals court denied Kalshi’s attempt to block the Nevada Gaming Control Board from issuing a temporary restraining order against its prediction markets in the state. Today, following that decision, a Nevada court sided with the state, issuing an order to prohibit Kalshi from offering event-based contracts on sports, politics, and entertainment to Nevada residents without first obtaining the required licenses.

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