Prediction Market Kalshi Eyes IPO As Revenue Hits $2 Billion

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Kalshi, the prediction markets platform that has become the dominant force in U.S. event contracts, is in informal talks with investment banks about a potential initial public offering, The Information reported Thursday, citing sources familiar with the company’s financials.

The disclosure caps a period of rapid transformation for the four-year-old company. Kalshi’s annualized revenue has crossed $2 billion — triple its November 2025 figure — after spikes in trading tied to the NBA playoffs and the FIFA World Cup drove volume to record levels.

In May, the platform recorded $16.81 billion in monthly trading volume, up from $14.81 billion in April.

The IPO conversations remain…