TSG Invest Updates Kalshi Analysis Following $22 Billion Series F

The firm’s refreshed Venture 50 research examines the prediction market operator’s $1 billion raise led by Coatue, its surge in institutional trading volume, and the state-level legal challenges facing its sports contracts

HAUPPAUGE, N.Y., Aug. 13, 2026 (GLOBE NEWSWIRE) -- TSG Invest, a multi-entity financial services firm providing accredited investors with research and access to pre-IPO investment opportunities, today announced updated research coverage of Kalshi, the CFTC-regulated prediction market exchange. The refreshed analysis, published on the firm’s Kalshi company page as of August 2026, reflects the company’s $22 billion valuation following the close of its Series F funding round.

Kalshi closed a $1 billion Series F in May 2026 at a $22 billion valuation. The round was led by Coatue, with participation from Sequoia Capital, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, and ARK Invest. The valuation doubled the $11 billion mark set by Kalshi’s Series E just five months earlier and brought the company’s total funding to approximately $2.8 billion. According to Kalshi, institutional trading volume on its platform increased 800% over the six months preceding the raise, with annualized trading volume more than tripling from $52 billion to $178 billion. The Financial Times has since reported that Kalshi is in talks for additional funding at a valuation near $40 billion; that round has not been confirmed as closed.

Kalshi is one of 50 private companies tracked in the TSG Venture 50 Index, the firm’s proprietary equal-weighted index of high-growth pre-IPO companies. TSG Invest’s updated coverage examines Kalshi’s valuation history, its exchange-based business model, and its risk profile — including legal challenges from gaming regulators in more than 20 states, revenue concentration in sports contracts, and distribution dependency on partner platforms. Kalshi’s inclusion in the Venture 50 is for educational purposes only and does not constitute an endorsement, sponsorship, affiliation, or investment recommendation.

“Kalshi’s repricing from $11 billion to $22 billion in five months is one of the fastest markups we have tracked in the Venture 50,” said Drew Spaventa, Founder and Chief Executive Officer of TSG Invest. “Our job is to lay out both sides. Institutional volume is accelerating, and at the same time more than 20 states are challenging Kalshi’s sports contracts in court. Investors deserve the whole picture.”

TSG Invest publishes company-level research on each Venture 50 constituent, covering founding history, business model, valuation, and risk factors. Accredited investors seeking information about the private markets can access the firm’s educational resources, including its Pre-IPO Investing Guide. Brokerage services referenced by the firm are offered through TSG Capital Advisors LLC, a FINRA/SIPC member broker-dealer (CRD #147509). Investment advisory services are offered through TSG Alpha Partners LLC, an SEC-registered investment adviser (CRD #319493). Private company investments are illiquid, highly speculative, and appropriate only for investors capable of bearing the full loss of invested capital.

About TSG Invest

TSG Invest is the brand name of The Spaventa Group LLC, a multi-entity financial services holding company founded in 2020, headquartered in Hauppauge, New York, and led by Andrew “Drew” Spaventa (CRD# 6175466), Founder and Chief Executive Officer. Through its affiliated entities — TSG Alpha Partners LLC, an SEC-registered investment adviser (CRD #319493); TSG Capital Advisors LLC, a FINRA/SIPC member broker-dealer (CRD #147509); TSG Fund Management; and TSG Insurance Services LLC — TSG Invest provides family office-style wealth management, alternative investments, and pre-IPO venture capital access. The firm’s proprietary Venture 50 Index and TSG Vault platform provide investors with research, analysis, and access to opportunities in the pre-IPO market.

For more information, visit www.tsginvest.com.

Media Contact:

Ryan Tiernan
Media Relations, TSG Invest
(631) 210-7263
info@tsginvest.com
www.tsginvest.com