Kalshi Targets $750M Funding at Striking $40B Valuation
TL;DR
- Kalshi is negotiating a funding round of at least $750M with Sequoia Capital and Wellington Management, at a $40 billion valuation.
- The platform had already raised $1 billion in May at a $22 billion valuation, meaning the new figure would nearly double that amount.
- With 95% market share in the U.S. and $4 billion in annualized revenue, the firm leads the prediction markets segment.
Kalshi, the CFTC-regulated prediction markets platform, is negotiating a new funding round of at least $750 million at a $40 billion valuation, according to a report by The Information citing sources with knowledge of the matter. The talks involve Sequoia Capital and Wellington Management as potential lead investors, and the amounts could exceed the figure initially mentioned.
Sequoia is already among the company’s current investors and has an executive on its board. The Silicon Valley firm manages $56 billion in assets. For Wellington, a Boston financial giant with $1.3 trillion in assets under management, this round would represent its first investment in Kalshi. The firm has a track record of entering companies’ capital in pre-IPO stages, a relevant detail given that CEO Tarek Mansour stated in June that the company is considering an initial public offering for 2027.
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