Kalshi raises $1 billion at $40 billion valuation as it expands beyond prediction markets
Mark Gilliam brings a decade of experience in business reporting to Fargo Current, previously writing for the Grand Forks Herald. He holds a degree in Business Administration from the University of North Dakota and specializes in local economic trends and business development.
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By Pritam Biswas and Anirban Sen Oct 29 (Reuters) Kalshi has raised $1 billion in a new funding round that values the prediction-market startup at $40 billion, the company said on Thursday, as it pushes to expand beyond event contracts and compete more directly with traditional exchanges. The fundraising comes as New York-based Kalshi seeks to expand beyond its prediction market roots in sports and elections to become a multi-asset trading platform. The move pits the startup against traditional exchange heavyweights such as CME Group and New York Stock Exchange parent Intercontinental Exchange. The round was co-led by Sequoia and Wellington. Tiger Global Management and Dragoneer Investment Group also took part, a source familiar with the matter said. The financing comes just over five months after Kalshi raised another $1 billion in a Coatue-led round that valued the company at $22 billion. Its valuation has risen by nearly 82% since then. In 2026, Kalshi moved into perpetua