Kalshi Passes $2 Billion in Annualized Revenue, Holds Informal IPO Talks

Prediction market Kalshi is generating more than $2 billion in annualized revenue, up about three times from November, as traders betting on NBA and World Cup games drove a surge in trading volume, according to people familiar with the company’s financials. Kalshi’s fast growth has led its top executives to hold informal conversations with investment banks about an eventual public offering. The eight-year-old startup wants banks seeking to advise it to integrate with Kalshi, which would...