Kalshi has secured an additional $200 million from new investors Baillie Gifford and Layer Global, expanding its $1 billion Series F round while maintaining a $22 billion valuation, highlighting strong investor interest in regulated prediction markets.

The platform’s monthly trading volume surpassed $14 billion in April, more than tripling from October last year, indicating a significant increase in market demand driven by political, sports, and cryptocurrency-related trading activities.

Kalshi’s annualized revenue run rate has exceeded $1.5 billion, reflecting the evolution of prediction markets from niche trading products into larger speculative and hedging venues, attracting increased participation from institutional investors.