KALSHI RAISES $1B AT $22B VALUATION AS PREDICTION MARKETS SCALE Kalshi raised $1 billion at a $22 billion valuation, led by Coatue with participation from major investors including Morgan Stanley, Sequoia Capital, and Andreessen Horowitz. Founded to turn real-world questions into tradable markets, Kalshi says it is building a new financial system where probabilities are priced transparently, not through fragmented or opaque channels. The company now claims over 90% of U.S. prediction market volume and says annualized trading has reached $178 billion in the past six months, with growing institutional adoption from hedge funds and asset managers.(*Walter Bloomberg)