US-based compliant prediction market Kalshi plans IPO Kalshi revealed an annualized revenue exceeding $2 billion, doubling its annualized revenue within three months. In May this year, Kalshi completed a $1 billion Series F funding round at a $22 billion valuation, with participation from a16z, Morgan Stanley, Sequoia, and others. Interestingly, Kalshi's CEO stated that Polymarket is not their main competitor, with more focus on CME and Robinhood.