Kalshi has about tripled its annualized revenue since November, bringing that figure to $2 billion, The Information reported Thursday (June 18), citing unnamed sources.
The report attributed the prediction markets platform’s gains to trading around the NBA and World Cup games.
This growth has led executives of the eight-year-old startups to hold informal talks with investments banks about an eventual initial public offering, according to the report.
The talks are in early stages and Kalshi is unlikely to launch an IPO until late 2027 or 2028, the report said.
Amid these talks with banks, the company is encouraging them to integrate with its prediction markets platform so that their institutional clients can trade on the platform, per the report.
Reached by PYMNTS, Kalshi declined to comment on the report.
Kalshi announced May 7 that it was valued at $22 billion in a Series F funding round in which it raised $1 billion. That valuation was double that $11 billion one it achieved five months earlier.
The company said at the time that its annualized revenue exceeded $1.5 billion and that its annualized trading volume had tripled over the previous six months, growing from $52 billion to $178 billion.
“This growth reflects a broader shift: prediction markets are moving beyond early adoption,” Kalshi said in a May 7 blog post. “Institutions are increasingly turning to event contracts to hedge real-world risk and access continuous, market-based signals on future outcomes.”
It was reported in April that Wall Street broker Bernstein expects prediction market volumes to hit $1 trillion by 2030. Volumes were gauged at $51 billion last year and are on track to reach about $240 billion this year, according to the report.
The report said that prediction markets have gone from an experiment to an increasingly popular part of trading in a few years and that the industry is moving from niche bets to a larger “information market” that covers sports, cryptocurrency, politics and the economy.
Kalshi Co-Founder Luana Lopes Lara said Monday (June 15) that the company built an artificial intelligence agent to help run its prediction market by doing things like reviewing the wording of its prediction market contracts.
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