Kalshi passes $2 billion in annualized revenue and is in early IPO talks
Kalshi has surpassed $2 billion in annualized revenue and is in early-stage discussions for an initial public offering, according to The Information. CNBC's Julia Boorstin reported the news on 'Fast Money' on Thursday, June 18. The milestone signals growing capital-markets credibility for the CFTC-regulated prediction market exchange, which has expanded rapidly across retail and institutional channels. The revenue figure and IPO exploration position Kalshi as the most advanced event-contracts platform in its push toward a public listing. The report comes as Kalshi has added institutional market-making infrastructure and retail distribution partnerships while facing rising competition from Robinhood's Rothera event contracts and perpetual futures products.
Kalshi's IPO talks give it a path to public-market capital before Robinhood's Rothera in-house event contracts and perpetual futures can erode its retail dominance. The $2 billion revenue run rate also gives Kalshi deal leverage with the institutional liquidity providers already building its desk infrastructure.