Kalshi Hits $40 Billion Valuation After Another $1 Billion Raise

Prediction-market operator Kalshi raised $1 billion in funding, lifting its valuation to $40 billion, an 82% increase from its $22 billion valuation in May. The round was led by Sequoia Capital and Wellington Management, marking Kalshi's second billion-dollar raise in five months as it prepares to challenge established derivatives exchanges.