Kalshi Opens Early IPO Talks With Investment Banks, Revenue Surges to $2B

According to The Information, Kalshi held early discussions with investment banks for a potential initial public offering on Thursday. The prediction markets platform has surpassed $2 billion in annualized revenue, up from $1 billion run rate reported in March. Kalshi raised $1 billion in its Series F round in May at a $22 billion valuation, led by Coatue with participation from Sequoia, Andreessen Horowitz, Morgan Stanley, and other major investors.
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