Key facts
- Kalshi is in advanced talks with Sequoia Capital and Wellington Management for a funding round.
- The potential investment is for at least $750 million at a $40 billion valuation.
- Sequoia Capital, an existing investor, may lead the round.
- Wellington Management would be a new investor in Kalshi.
- Kalshi is considering an initial public offering in 2027.
- The company reported $4 billion in annualized revenue, primarily from sports contracts.
Prediction market giant Kalshi is reportedly in advanced discussions with Sequoia Capital and Wellington Management to secure at least $750 million in funding at a $40 billion valuation. Sequoia, an existing investor, is considering leading the round, which would mark Wellington's first investment in the company. Kalshi, which raised $1 billion in May at a $22 billion valuation, is now the leading prediction market platform by revenue, generating approximately $4 billion annually, largely driven by sports contracts. The company claims 95% of the U.S. prediction market share by revenue and is reportedly considering an initial public offering in 2027. Jeff Bandman, who previously helped Kalshi secure its CFTC license, is returning as CEO of Kalshi Prime.