Kalshi Revenue Triples to $2B+, Eyes IPO

Prediction market platform Kalshi is on a tear. The company is now pulling in more than $2 billion in annualized revenue — roughly triple what it was generating back in November, according to sources cited by The Information.

That kind of growth trajectory has apparently caught the attention of Wall Street. Kalshi has held informal conversations with banks about a potential IPO, though nothing is formalized yet.

The numbers are staggering for a company operating in the still-nascent prediction markets space. Going from roughly $670 million in annualized revenue to north of $2 billion in a matter of months signals explosive user adoption and trading volume.

Whether Kalshi pulls the trigger on going public remains to be seen, but the financials are starting to tell a very compelling story for prospective investors.