Kalshi Eyes $40B Valuation in New Funding Round

Prediction market platform Kalshi is reportedly in discussions to secure new funding that would value the company at $40 billion. This valuation nearly doubles its previous valuation. The company aims to finalize this funding round as early as the third quarter.

In parallel, Meta is developing a new application named 'Arena.' This app is designed to allow users to place bets on the outcomes of future events. Meta's entry into this market positions it alongside existing major platforms such as Polymarket and Kalshi.

The prediction market sector has experienced substantial growth in recent years. This surge is largely attributed to the U.S. Supreme Court's 2018 decision that overturned the federal ban on online betting. This ruling has paved the way for increased activity and new entrants in related markets.