Kalshi Seeks to Raise $1 Billion with a Valuation of $40 Billion

The prediction market platform Kalshi is seeking to raise $1 billion based on a valuation of $40 billion. This represents an approximately 82% increase compared to the valuation of $22 billion recognized last May. Kalshi is currently negotiating to attract funds from existing and new investors. Sequoia Capital and Wellington Management are discussing participation in this investment, while Tiger Global and Dragoneer are also considering investment. Kalshi's valuation reassessment is taking place against the backdrop of expanding trading volume in the prediction market and increasing market share. Additionally, Kalshi is expanding its business scope from a focus on event contracts to a trading platform that handles a broader range of financial products. Recently, Kalshi's monthly trading volume reached $16.81 billion, and its annual trading volume has increased more than threefold compared to the previous year, totaling $178 billion. However, regulatory uncertainties in the prediction market industry remain a variable, with some state governments taking legal action against Kalshi and Polymarket. Institutional investors are exploring the potential to use event contracts as tools for managing macroeconomic and geopolitical risks.

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