Prediction market platform Kalshi is negotiating a new funding round of at least $750 million. This deal could bring the company's valuation to approximately $40 billion, marking an 82% increase from its $22 billion valuation in May 2026.
Sequoia Capital and Wellington Management are currently involved in the funding discussions. If the deal proceeds, it will mark the first investment from Wellington Management in the platform. The company's valuation has grown rapidly from $5 billion in October 2025.
Kalshi currently holds a 95% share of the US prediction market. Earlier in 2026, the company reported an annualized revenue of nearly $4 billion, supported by an annualized trading volume of roughly $178 billion, largely driven by sports contracts.
The platform operates under the oversight of the Commodity Futures Trading Commission. Despite receiving approval for event-based contracts, the company has faced cease-and-desist letters from regulators in Nevada, New Jersey, and Maryland regarding sports betting.
CEO Tarek Mansour confirmed that the company is considering a public listing. A potential IPO is currently targeted for 2027. For comparison, its main competitor, Polymarket, was recently reported to be seeking funding at a valuation of around $15 billion.
