PitchBook values Kalshi at up to $42.1B, citing sports prediction market risks

PitchBook estimates prediction market platform Kalshi is worth $30.4 billion under its base-case scenario and as much as $42.1 billion under an optimistic scenario, while its bearish case values the company at $22.8 billion, Fortune reported. PitchBook projects Kalshi will generate $6.4 billion in revenue and $3.7 billion in adjusted earnings by 2030. However, some financial figures are based on estimates because Kalshi is a private company. The market research firm identified regulatory uncertainty in sports prediction markets as a key variable. Sports-related contracts account for 69.9% of Kalshi’s event fees this year, rising to 82.4% when parlay-style bets are included. Lawsuits over the legality of sports event contracts are currently underway in multiple U.S. states.