Key facts
- Kalshi raised $1 billion in a new funding round.
- The startup's valuation reached $40 billion.
- The round was co-led by Sequoia and Wellington.
- Kalshi is expanding into a multi-asset trading platform.
- Utah's attorney general filed criminal charges against Kalshi for promoting online gambling.
Kalshi has secured $1 billion in a new funding round, boosting its valuation to $40 billion. The prediction-market startup is aiming to broaden its offerings beyond event contracts to include multi-asset trading, positioning itself as a competitor to established exchanges like CME Group and Intercontinental Exchange. This latest funding round saw participation from investors including Sequoia, Wellington, Tiger Global Management, and Dragoneer Investment Group. The company's valuation has seen a significant increase of 82% since its previous $1 billion funding round just five months prior. Kalshi expanded into offering perpetual futures for cryptocurrencies, equity indexes, and metals in 2026 after receiving approval from the Commodity Futures Trading Commission. Despite its growth, Kalshi faces legal challenges, with Utah's attorney general filing criminal charges against the company and two executives for allegedly promoting online gambling.