I've watched prediction markets grow from side bet to real exchange — and Kalshi priced that shift at $40 billion.
Kalshi closed a $1 billion Series G at a $40 billion valuation, co-led by Sequoia and Wellington, per Reuters Thursday — nearly double its $22 billion Coatue-led round five months ago. Non-sports revenue now tops $1 billion annualized, the company says.
The money funds the pivot beyond event contracts: Kalshi entered perpetual futures this year after CFTC approval, starting with crypto perps, then indexes and metals.
The other side is legal: Utah charged Kalshi and its co-founders criminally this week over sports contracts, while the CFTC sued to block state enforcement. The $40 billion bet is also a bet federal oversight wins.
Bitcoin near $78,900, down 3.0% in 24 hours, ether near $2,260, down 4.3% (Binance spot, ~03:59 WIB) — the tape, not a reaction to this raise. NFA. DYOR.
Does a $40 billion Kalshi make prediction markets permanent — or the priciest bet on an undecided legal fight?
#CryptoMarkets #Kalshi #PredictionMarkets #WallStreet #Derivatives
Kalshi closed a $1 billion Series G at a $40 billion valuation, co-led by Sequoia and Wellington, per Reuters Thursday — nearly double its $22 billion Coatue-led round five months ago. Non-sports revenue now tops $1 billion annualized, the company says.
The money funds the pivot beyond event contracts: Kalshi entered perpetual futures this year after CFTC approval, starting with crypto perps, then indexes and metals.
The other side is legal: Utah charged Kalshi and its co-founders criminally this week over sports contracts, while the CFTC sued to block state enforcement. The $40 billion bet is also a bet federal oversight wins.
Bitcoin near $78,900, down 3.0% in 24 hours, ether near $2,260, down 4.3% (Binance spot, ~03:59 WIB) — the tape, not a reaction to this raise. NFA. DYOR.
Does a $40 billion Kalshi make prediction markets permanent — or the priciest bet on an undecided legal fight?
#CryptoMarkets #Kalshi #PredictionMarkets #WallStreet #Derivatives