Prediction market Kalshi reached a $22bn valuation following a $1bn funding round led by investment firm Coatue Management, according to The Wall Street Journal.
Kalshi Secures $22bn Valuation After Coatue Funding, WSJ Reports
20 March 2026 - 09:05 CET
The platform operates in the US as a regulated exchange approved by the Commodity Futures Trading Commission (CFTC) and was previously valued at $11bn after raising $1bn in Dec 2025 from investors including Paradigm and Sequoia Capital, the publication noted.
Rival Polymarket is reportedly eyeing a $20bn valuation after reaching $9bn in Oct 2025 following a planned investment of up to $2bn from Intercontinental Exchange, though the platform currently restricts US users.
Surging values for both platforms reflect an evolution from wagering to becoming critical infrastructure for pricing real-world risk. Even as both firms face threatened bans from US states such as Nevada and Massachusetts alongside scrutiny from UK and European regulators, according to the report.
