U.S. prediction market platform Kalshi’s annualised revenue has surpassed $2 billion, The Information reported on June 18 local time. That is about triple the level in November last year. A surge in betting volume related to the NBA and the World Cup fed the growth, it said.
Kalshi management has also begun informal discussions with investment banks with an initial public offering in mind.
Kalshi is said to have set a condition for investment banks seeking IPO advisory work: they must integrate with its platform. If integration is completed, the banks’ institutional clients will be able to trade directly on Kalshi.
The Information said the listing could come as early as the end of next year or as late as 2028.
Kalshi raised $1 billion in May in a round led by Coatue, and was valued at about $22 billion.
Trading volume in the first 2 weeks of June was $10 billion, surging from $430 million a year earlier. Rival Polymarket posted $5.5 billion over the same period.
Chi-gyu Hwang
delight@d-today.co.kr