New York-based CFTC-regulated prediction market Kalshi is close to raising approximately $1 billion, valuing the company at around $40 billion. This funding round is expected to be the final private financing before a possible IPO as early as 2027. The valuation has tripled in five months, rising from $11 billion in December 2025 to $22 billion in May 2026. Trading volumes grew from $52 billion to $178 billion over six months, with an approximately 90% gross margin and a revenue run-rate exceeding $2 billion in mid-2026. Key investors include Sequoia Capital and Wellington Management, with talks reportedly underway with Tiger Global and Dragoneer Investment Group.
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