Kalshi Raises $1 Billion at $40 Billion Valuation, Nearly Doubling Since May
Updated
Updated · The New York Times · Oct 29
Kalshi Raises $1 Billion at $40 Billion Valuation, Nearly Doubling Since May
3 articles · Updated · The New York Times · Oct 29
Summary
$1 billion in new Series G funding valued Kalshi at $40 billion, up from $22 billion in May and putting the prediction-market company ahead of rival Polymarket.
Sequoia Capital and Wellington Management led the round, with Baillie Gifford, Morgan Stanley Investment Management, Coatue and Andreessen Horowitz also participating.
Chief executive Tarek Mansour said the cash will fund product development for retail and institutional customers, as Kalshi expands after drawing tens of billions of dollars in wagers.
The round is widely seen as Kalshi's last before a potential IPO, though Mansour declined to say when or whether a listing would happen.
Kalshi's new valuation is nearly double Polymarket's $21 billion level from its August financing, underscoring investors' view that it now leads the fast-growing prediction-markets sector.