Kalshi raises $1 billion at $40 billion valuation as it expands beyond prediction markets - Reuters

Kalshi has secured an additional $1 billion in funding, increasing its valuation to $40 billion. This figure represents an 82% rise from its $22 billion valuation recorded in May. The investment round was led by Sequoia Capital and Wellington Management, marking the company's second billion-dollar capital raise within approximately five months. With this new capital, Kalshi intends to expand beyond prediction markets to challenge established derivatives exchanges while navigating ongoing legal disputes.