Kalshi's revenue doubles to $4B annualized as it seeks $40B valuation
The prediction-market platform's annualized revenue hit $4 billion in July while it courts investors and faces new state tax risk.
Conversation activity · last 6 hours peak 1/15m
Summary, timeline and people extracted by Claude from 3 items across 3 sources · 2h ago. Quotes are verbatim.
According to a report from The Information, Kalshi's annualized revenue surpassed $4 billion in July, doubling from a bit over $2 billion just two months earlier, while its operating expenses reached $300 million in June. The company is now seeking new funding at a $40 billion valuation even as it spends heavily on marketing and confronts potential state taxes in some of its largest markets.
- Kalshi's annualized revenue surpassed $4 billion in July, doubling from just over $2 billion two months earlier.
- Operating expenses reached $300 million in June alone.
- The company is seeking fresh funding at a $40 billion valuation.
- Kalshi faces heavy marketing spend and potential state taxes in some of its largest markets.
How it unfolded
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Techmeme and a Mastodon aggregator account republished the headline finding from The Information's article on Kalshi's revenue and valuation ambitions.
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The Information's Yueqi Yang reported that Kalshi is seeking fresh funding at a $40 billion valuation while also spending heavily on marketing and facing potential state taxes in some of its biggest markets.
“Scoop: Kalshi has surpassed $4 billion in annualized revenue, doubled from just two months ago, as it seeks fresh funding at a $40 billion valuation.”
@Yueqi_Yang · X ↗ - 6 weeks quiet
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Kalshi's annualized revenue doubled to more than $4 billion by July, up from just over $2 billion two months prior.
- 4 weeks quiet
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Two months before the August report, Kalshi's annualized revenue was already topping $2 billion, per The Information's sourcing.
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Kalshi's operating expenses totaled $300 million for the month of June, according to the report.
What people are saying verbatim
“Scoop: Kalshi has surpassed $4 billion in annualized revenue, doubled from just two months ago, as it seeks fresh funding at a $40 billion valuation.”
@Yueqi_Yang, Reporter, The Information · x ↗ · Aug 10
“It's also been spending heavily on marketing and faces potential state taxes in some of its biggest markets”
@Yueqi_Yang, Reporter, The Information · x ↗ · Aug 10
“Source: Kalshi's annualized revenue topped $4B in July, up from $2B+ two months earlier, and its operating expenses totaled $300M in June”
Techmeme@techhub.social, News aggregator · mastodon ↗ · Aug 10