Powerlaw Corp. spotlights Kalshi holding after $2B annualized revenue report
Powerlaw Corp. (Nasdaq: PWRL), a publicly traded fund advised by Powerlaw Fund Adviser, LLC, is highlighting its portfolio exposure to Kalshi. The San Francisco-based fund flagged the holding on June 24, 2026, following reports that the prediction market platform reached $2 billion in annualized revenue. Powerlaw describes itself as the only public fund with Kalshi exposure, giving institutional investors a listed vehicle to access the regulated prediction market operator's growth without direct private-market participation. The announcement comes as Kalshi expands its product set, including perpetual futures approved by the CFTC, and pursues broader market positioning.
Powerlaw's public highlight turns Kalshi's $2 billion revenue run rate into a tradeable thesis for investors who cannot access private markets. If the fund scales the position, it forces other asset managers to treat regulated prediction markets as a formal sector allocation or explain the oversight.
Powerlaw to a roster of institutional signals — including Citizens' $1 billion DraftKings revenue target and Flutter's $300 million FanDuel Predicts commitment — treating regulated prediction markets as a mainstream financial-services allocation rather than a niche wager.