PSO J318.5338$-$22.8603 is an extremely-red planetary-mass object that has been identified as a candidate member of the $beta$ Pictoris moving group based on its spatial position and tangential velocity. We present a high resolution $K$-band spectrum of PSO J318.5338$-$22.8603. Using a forward-modeling Markov Chain Monte Carlo approach, we report the first measurement of the radial velocity and $v$ sin($i$) of PSO J318.5$-$22, $-$6.0$^{+0.8}_{-1.1}$ km s$^{-1}$ and 17.5$^{+2.3}_{-2.8}$ km s$^{-1}$, respectively. We calculate the space velocity and position of PSO J318.5$-$22 and confirm that it is a member of the $beta$ Pictoris moving group. Adopting an age of 23$pm$3 Myr for PSO J318.5$-$22, we determine a mass of $8.3pm0.5$ $M_{rm{Jup}}$ and effective temperature of $1127^{+24}_{-26}$ K using evolutionary models. PSO J318.5338$-$22.8603 is intermediate in mass and temperature to the directly-imaged planets $beta$ Pictoris b and 51 Eridani b, making it an important benchmark object in the sequence of planetary-mass members of the $beta$ Pictoris moving group. Combining our $v$ sin($i$) measurement with recent photometric variability data, we constrain the inclination of PSO J318.5$-$22 to $>29^{circ}$ and its rotational period to 5-10.2 hours. The equatorial velocity of PSO J318.5$-$22 indicates that its rotation is consistent with an extrapolation of the velocity-mass relationship for solar system planets.
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