Prediction market platform Kalshi is reportedly in advanced talks to raise approximately $1 billion at a $40 billion valuation. The potential funding round follows a $1 billion Series F round in May that valued the company at $22 billion.
The potential funding round would significantly increase Kalshi's valuation, reflecting investor confidence in the prediction market sector and the company's growth trajectory.
Prediction market platform Kalshi is reportedly in advanced talks to raise approximately $1 billion in a new funding round at a valuation of $40 billion. Existing investors Sequoia Capital and Wellington Management are in talks to lead the round, which could include Tiger Global Management and Dragoneer Investment Group, people familiar with the matter told Reuters. This potential fundraising follows a $1 billion Series F round in May that valued Kalshi at $22 billion, doubling its valuation from December. Reports that Kalshi was seeking funding at a $40 billion valuation first emerged in June. The Financial Times reported on June 24 that the company was in talks to raise funds at a $40 billion valuation and could close it as soon as the third quarter of this year. Founded in 2018 by MIT alumni Tarek Mansour and Luana Lopes Lara, Kalshi aims to expand beyond prediction markets for events like sports betting and election outcomes to become a broader trading platform, positioning itself as a competitor to traditional exchanges like CME Group and Intercontinental Exchange. Kalshi has reportedly gained market share from its closest competitor, Polymarket, which is also reportedly seeking to raise $1 billion in capital and has faced challenges with its US platform launch and a CFTC investigation. Tiger Global, known for its venture capital investments and crossover strategy, has backed companies like OpenAI and ByteDance. Dragoneer is also a prominent technology-focused investment firm that has invested in OpenAI and SpaceX. Both firms are reportedly looking to increase their venture capital bets.
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