According to Reuters, Kalshi is in advanced talks for a new $1 billion funding round involving Tiger Global and Dragoneer. The round could be led by Sequoia Capital and Wellington, and the deal is expected to close in the coming weeks. The valuation will be around $40 billion, nearly double the $22 billion from May.
Kalshi aims to move beyond prediction markets and become a versatile trading platform competing with CME and ICE. Over the past year, the company has surpassed Polymarket in market share, while its competitor has struggled with its U.S. launch and a CFTC investigation. Meanwhile, Polymarket is also in talks to raise $1 billion.
Kalshi is also exploring a potential IPO in the coming years.
Continue reading this article on source: reuters.com