Svmuu News: Prediction market platform Kalshi has completed a new funding round exceeding $1 billion, valuing the company at $22 billion, double its $11 billion valuation from the previous round in December last year. Sources familiar with the matter revealed that Coatue Management led this round, and Kalshi's current annualized revenue stands at $1.5 billion.

Founded in 2018, Kalshi's popularity surged after a court allowed it to offer election trading in 2024. The company operates as a CFTC-regulated financial exchange, authorized to conduct business nationwide under federal rules. In February, its trading volume surpassed $10 billion, a 12-fold increase from six months prior. Despite recent criminal lawsuits and regulatory disputes, including those filed by Arizona, investors remain enthusiastic about the rapidly growing market. (Bloomberg)