Prediction Market Platform Kalshi Raises $1 Billion at $40 Billion Valuation
Kalshi secured a $1 billion funding round led by Sequoia Capital and Wellington Management, nearly doubling its valuation from $22 billion in May.
US-based prediction market platform Kalshi has announced the completion of a $1 billion funding round, valuing the company at $40 billion. This represents a near-doubling of its valuation from $22 billion during its previous round in May. The new round was co-led by Sequoia Capital and Wellington Management.
Kalshi stated that the funds will be used to build a broader financial exchange beyond just prediction markets. Plans include developing leveraged event contracts, perpetual futures tied to individual stocks, and markets for trading compute prices. The company has seen continued growth since May, driven by high-volume trading on events like the 2026 FIFA World Cup, the NFL season, and US midterm elections.
Despite facing legal challenges regarding state versus federal regulatory authority over sports-related event contracts, Kalshi remains a dominant player. Its main rival, Polymarket, is currently valued at approximately $21 billion. CEO Tarek Mansour previously indicated that an IPO is under consideration but likely not before 2027. Media reports describe this financing as the final private round before a public listing.