Prediction platform Kalshi has completed a $1 billion Series F funding round, reaching a valuation of $22 billion.

On May 7th, prediction market platform Kalshi announced the completion of a $1 billion Series F financing round, reaching a valuation of $22 billion. This financing round was led by Coatue, with participation from HSG, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, and ARK Invest. Kalshi stated that this financing comes at a time of accelerating institutional demand, with institutional trading volume surging by 800% in the past six months. (Jiemian)