PitchBook valued prediction market platform Kalshi at about $30.4 billion in its base case, $42.1 billion in a strong performance scenario, and $22.8 billion in a pessimistic scenario. According to Odaily, PitchBook said Kalshi completed a $1 billion Series F round in May at a post-money valuation of $22 billion.

PitchBook expects Kalshi’s revenue to reach $6.4 billion by 2030, with adjusted profit of $3.7 billion. The report said regulatory risk in sports prediction markets is a key variable affecting the company’s valuation. Sports markets account for about 69.9% of Kalshi’s event fee revenue, rising to 82.4% when Exotics products such as parlays are included.