U.S. prediction market platform Kalshi is seeking to raise new funds at a valuation of $40 billion. A Cointelegraph report, citing the Financial Times on Wednesday, said the investment could be completed as soon as the third quarter of this year.
If the investment goes through, Kalshi’s valuation would jump to nearly double from $22 billion in May. Kalshi raised $1 billion in a Series F round led by Coatue Management at the time. Andreessen Horowitz, Sequoia Capital, Morgan Stanley and Ark Invest also participated. Kalshi was valued at $11 billion in December and about $5 billion in October.
If this round closes at $40 billion, Kalshi’s valuation would be eight times higher in less than a year. That would also far exceed Polymarket’s $15 billion valuation as of April.
Chi-gyu Hwang
delight@d-today.co.kr