Kalshi, a prediction markets platform regulated by the CFTC, is currently in advanced negotiations to secure $1 billion in new funding. This investment round would bring the company's valuation to approximately $40 billion. Prospective investors include Tiger Global Management and Dragoneer Investment Group, with potential participation from existing backers like Sequoia Capital and Wellington Management.
The proposed valuation represents an 82% increase from the $22 billion valuation achieved during the company's Series F round just weeks ago. If finalized, this would mark the third time in seven months that Kalshi has raised $1 billion or more. Since October 2025, the company has secured funding at valuations of $5 billion, $11 billion, and $22 billion.
The platform's growth is supported by a significant increase in trading activity. Annualized trading volume reached $178 billion, up from $52 billion, while institutional trading volume surged by 800%. Annualized revenue for the company now exceeds $1.5 billion. The exchange allows users to trade contracts on real-world events, including elections, weather, and sports.
Kalshi operates as a regulated alternative to crypto-based prediction markets such as Polymarket. The company, founded by Tarek Mansour and Luana Lopes Lara, has faced regulatory challenges across various US states. If the current round closes, the total private capital raised by Kalshi in under a year will exceed $3 billion.
