Kalshi raises $1B in new funding

Prediction market platform Kalshi has completed a new $1 billion investment round led by Coatue Management, The New York Times reported. The company was valued at approximately $22 billion. Participants in the round included Sequoia Capital, Andreessen Horowitz (a16z), IVP, Paradigm, Morgan Stanley, and Ark Invest. Kalshi plans to use the funds to expand its services for corporate clients.