Kalshi Seeks Funding at $40B Valuation

Kalshi is in talks to raise funds at a $40 billion valuation, nearly doubling the $22 billion price set in May, the Financial Times said on Wednesday. The company could close the round as soon as the third quarter and previously closed a $1 billion Series F in May led by Coatue Management with participation from Andreessen Horowitz, Sequoia Capital, Morgan Stanley and Ark Invest.

Kalshi declined to comment. The $22 billion figure was double Kalshi’s $11 billion valuation in December and more than four times its $5 billion valuation in October. If the new round closes at $40 billion, the company’s value would have increased eightfold in less than a year, outpacing Polymarket’s last reported $15 billion valuation.

Founded in 2018 by Tarek Mansour and launched publicly in July 2021, Kalshi rode a wave of interest in prediction markets in 2024 ahead of the US presidential election.

United States

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