Kalshi, a New York-based prediction market operator, raised approximately $1.12 billion through a private equity offering launched on April 3, 2026, according to a Form D filing made public on August 26. The company’s annualized trading volume reached $178 billion by April 2026, up from roughly $5 billion a year prior. Institutional trading volume jumped 800% over a six-month period, giving Kalshi a market share between 90% and 95% of the US prediction market. The company now reports annualized revenues exceeding $2 billion. Sources indicate the firm is targeting an IPO as early as 2027.
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