Kalshi, a prediction markets platform, is reportedly in early discussions with investment banks about a potential initial public offering. The reports come as the company’s growth continues and as scrutiny around its sports-related contracts increases amid ongoing legal challenges. One outlet says Kalshi raised $1 billion in a Series F funding round in May, valuing the company at about $22 billion. Another outlet states Kalshi has surpassed $2 billion in annualized revenue and frames the IPO discussions as part of the company’s plans in light of the regulatory and legal environment surrounding its sports offerings. The coverage characterizes the IPO work as exploratory at this stage, with investment banks being engaged in preliminary discussions rather than indicating a confirmed timetable or finalized listing plans. Overall, the sources agree that Kalshi’s strong performance in revenue and recent large-scale fundraising are key context for the reported move toward a public listing.