08:57 AM EDT, 03/20/2026 (MT Newswires) -- (Updates with Kalshi's response in the third paragraph)

Alphabet-backed (GOOGL, GOOG) Kalshi has raised over $1 billion at a $22 billion valuation in a new funding round, led by an investment from Coatue Management, several media outlets reported Friday, citing people familiar with the matter.

Kalshi's annual revenue run rate is about $1.5 billion, according to the reports.

Kalshi declined to comment, while Coatue Management did not immediately respond to a request for comment from MT Newswires.

In December, Kalshi said it raised $1 billion in a previous round at a $11 billion valuation, which included financing from CapitalG, Alphabet's independent fund.