Kalshi is on the verge of going public, the prediction market track is getting more and more lively.

According to Crowdfund Insider, the prediction market platform Kalshi has initiated preliminary discussions with investment banks regarding a potential IPO. Its annual revenue is reportedly over $2 billion, doubling from $1 billion earlier this year. Kalshi completed a $1 billion Series F funding round in May, with a valuation of $22 billion, with investors including Coatue, Sequoia, a16z, Paradigm, Morgan Stanley, and ARK Invest. In May, Kalshi's monthly trading volume reached $16.81 billion, up from $14.81 billion in April, continuing to lead its competitor Polymarket.