Kalshi has reportedly achieved a $22bn valuation following a raise of more than $1bn in its latest funding round led by Coatue Management.
As reported by Bloomberg and the Wall Street Journal, the new deal will roughly double Kalshi’s valuation of $11bn which it achieved in December.
That valuation came after a Series E round led by Paradigm with backing from Sequoia Capital, ARK Invest and Andreessen Horowitz.
Reporting earlier this month from the Wall Street Journal suggested that Kalshi and Polymarket were seeking new valuations of $20bn.
The figures dwarf the market caps of both DraftKings, which sits at $12.3bn, and Flutter’s of almost $18.7bn.
The two online sports betting giants have seen their share prices plummet in the past six months amid prediction markets pressure.
DraftKings and Flutter stock has dropped by 43.2% and 62.7% respectively in the last six months.
The rapid growth in valuations of the prediction markets comes despite increasing pressure from state regulators.
Kalshi was hit with criminal charges this week from Arizona’s Attorney General, Kris Mayes, but received public support from the chair of the Commodity Futures Trading Commission (CFTC), Mike Selig.
In January, a judge stopped Kalshi from offering sports event contracts in Massachusetts during its appeal period against an injunction intended to ban it entirely from the state.
In November, a Nevada judge dissolved a previous injunction granted to Kalshi against the regulator permitting it to remain in the state.
Kalshi has always maintained that the services it offers are a form of trading and not gambling, and that it is federally regulated by the CFTC.
The company’s main rival Polymarket is also eyeing a valuation of similar scale, although the platform is currently invite-only in the US.
Both companies received significant capital injections at the end of 2025, with Kalshi gaining $1bn and Polymarket $2bn.
The post Report: Kalshi secures $22bn valuation after raising $1bn in funding round first appeared on EGR Intel.
Latest raise follows earlier reports Kalshi and Polymarket were both targeting $20bn valuations
The post Report: Kalshi secures $22bn valuation after raising $1bn in funding round first appeared on EGR Intel.