Prediction market platform Kalshi raised $1 billion in funding at a $40 billion valuation, The Information reported on Oct. 29.
The investment was led by Wellington and Sequoia, the report said. Baillie Gifford, Andreessen Horowitz, Coatue, Morgan Stanley Investment Management, CapitalG, Hudson River Trading and Balyasny Asset Management also participated.
Kalshi's valuation is similar to Coinbase, which has a market capitalisation of $43 billion, and lower than Robinhood, at $82 billion. Rival Polymarket is raising funds at a $21 billion valuation.
Kalshi said annualised revenue outside sports exceeds $1 billion. Its total annualised revenue topped $4 billion in July, helped by World Cup-related contracts. Kalshi held early discussions about an initial public offering and could list as soon as 2027, The Information reported.
Chi-gyu Hwang
delight@d-today.co.kr