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Kalshi in advanced talks to raise new funding at $40B valuation: Reuters
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Kalshi is reportedly in advanced talks to raise about $1 billion at a $40 billion valuation, according to people familiar with the matter cited by Reuters. Existing investor Sequoia Capital and Wellington Management are in talks to lead the round, while Tiger Global Management and Dragoneer Investment Group could participate.
Kalshi closed a $1 billion Series F round in May at a $22 billion valuation, doubling its December valuation. The new target would come four months later and imply an $18 billion increase, or roughly 82%.
Reports of Kalshi’s pursuit of a $40 billion valuation first emerged in June. On June 24, the Financial Times reported that the company was discussing new funds at that valuation. The transaction could close as soon as the third quarter of this year.
Reuters describes the latest discussions as advanced, but the round has not been confirmed. No final terms or closing date were provided, leaving the proposed amount and valuation as targets. The earlier Financial Times timing also remained prospective.
The increase highlights how rapidly expectations for the prediction market platform have changed. Its $22 billion May valuation already represented a doubling from December. A $40 billion valuation would establish a benchmark nearly twice the May level.
Sequoia and Wellington were identified as prospective lead investors, reflecting their existing involvement with Kalshi. Tiger Global and Dragoneer were named only as possible participants. Kalshi and the four firms did not immediately respond to Cointelegraph’s requests for comment.
If completed, the financing would reset Kalshi’s valuation less than a year after its Series F and indicate continued institutional appetite for prediction markets. It would also place substantial new capital behind the platform. Finalization remains uncertain pending an agreement, verified terms and a completed closing.
