Kalshi seeks funding at $40B valuation, nearly doubling last raise: FT
Kalshi is reportedly seeking new funding at a $40 billion valuation, which would nearly double its $22 billion valuation from May and mark an eightfold increase in less than a year. The raise could close as soon as Q3. The surge reflects rising investor interest in prediction markets, where Kalshi has overtaken Polymarket in trading volume. By May, Kalshi’s monthly notional trading volume reached $17.9 billion versus Polymarket’s $7.1 billion. Kalshi’s growth accelerated after a Robinhood partnership and broader momentum around election-related betting. The sector is also attracting new entrants, including Cboe and reportedly Meta, while facing intensifying legal challenges from states that view some event contracts as illegal sports betting.
