The prediction market’s valuation would nearly double from its $22bn May raise.
The hit
Kalshi is in advanced talks to raise about $1bn at a roughly $40bn valuation, according to a Reuters report citing people familiar with the matter. Tiger Global Management & Dragoneer Investment Group are among the investors considering the round, with Sequoia Capital & Wellington Management reportedly in talks to lead it.
Why it matters
The jump shows how fast investor expectations around prediction markets have risen. Kalshi is positioning itself as a broader trading venue, pushing into stock & financial-event contracts that put it in closer competition with established exchanges & draw increasing regulatory attention.
The record
| Prior valuation | $22bn after a $1bn raise in May |
|---|---|
| Earlier valuation | $2bn in June 2025 after a $185m Paradigm-led round |
| Weekly notional volume | up roughly tenfold over the prior year (Reuters Breakingviews) |
| Rival Polymarket valuation | about $21bn after a 1789 Capital-led round (Bloomberg) |
What happens next
The round could close in the coming weeks, according to Reuters. CEO Tarek Mansour has said an IPO is under consideration, but not in 2026.
Sources: Kalshi seeks $1B as valuation nearly doubles to $40B
18+. Betting involves risk. If gambling is a problem for you or someone close to you, help is available.
Discussion
Ask a question, add useful context or share a source. Keep it relevant & respectful.
Add a comment
Comments are reviewed before publication.