Kalshi announced a $1 billion Series F funding round in early May at a $22 billion valuation. An equity offering of $1.5 billion is currently three-quarters sold, amounting to $1.12 billion. The prediction markets platform faces legal challenges from several US states. In mid-August, a Washington state judge ordered Kalshi to stop offering a broad range of event contracts in the state, rejecting the argument that federal law overrides the state’s gambling laws. New York City council also announced an investigation into predatory marketing practices in prediction markets.
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