Kalshi surpasses $2B in annual revenue, discusses IPO

Prediction market Kalshi has surpassed $2 billion in annual revenue and has begun discussions with several investment banks about a potential IPO, The Information reported. The revenue growth is attributed to increased betting on the outcomes of events like U.S. National Basketball Association (NBA) games and the World Cup. Kalshi is reportedly in informal talks with multiple financial institutions for IPO advisory services and is requiring any investment bank wishing to join its advisory team to integrate with the Kalshi platform's system.