Kalshi locks in $22 billion valuation, gaining slight edge over its rival Polymarket

Kalshi, the largest prediction market in the U.S., now boasts a $22 billion valuation, as it jumps ahead of its main competitor Polymarket. The investment firm Coatue Management is leading a $1 billion investment round at the new valuation, according to the Wall Street Journal. A spokesperson for Kalshi declined to comment on the raise. 

Kalshi’s valuation comes as the company trades punches with Polymarket in a heavyweight duel for the top spot in the prediction market industry. Earlier in March...