Prediction market platform Kalshi is in advanced discussions to raise at least $750 million at a $40 billion valuation, with Sequoia Capital and Wellington Management considering leading the round, which could ultimately exceed that amount. This funding comes just three months after Kalshi raised $1 billion at a $22 billion valuation in May. The company’s annualized revenue reportedly reached $4 billion in July, driven largely by sports contracts that account for more than 80% of its trading volume. A $40 billion valuation would put Kalshi well ahead of rival Polymarket, which has been seeking funding at a $20 billion valuation.
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