Prediction market platform Kalshi has raised $1 billion in a funding round led by Coatue Management, boosting its valuation to $22 billion. The platform, which allows users to trade on event outcomes like sports and politics, has seen significant growth following the 2024 U.S. presidential election. Kalshi now boasts approximately 2 million monthly active users and an annualized trading volume of $178 billion, with revenue surpassing $1.5 billion annually. This marks Kalshi's third funding round in seven months, each nearly doubling its valuation, highlighting increased institutional interest in prediction markets. Despite its growth, the platform faces ongoing regulatory challenges and controversies related to insider trading.