TLDR Tech / Fintech
Kalshi holds early IPO talks with investment banks
Kalshi has reportedly begun informal IPO discussions with investment banks after surpassing $2 billion in annualized revenue and raising $1 billion at a $22 billion valuation in May. The prediction markets platform is scaling rapidly, with $16.8 billion of May trading volume, but faces growing scrutiny from state regulators and gaming groups over whether sports and casino-style prediction contracts should be treated as illegal gambling.
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