US-based prediction market platform Kalshi is reportedly in talks to raise funds at a $40 billion valuation, nearly doubling its $22 billion valuation in May.
The company could close the new funding round as soon as the third quarter of this year, the Financial Times reported on Wednesday, citing people familiar with the matter.
Kalshi closed a $1 billion Series F in May, led by Coatue Management, with participation from Andreessen Horowitz, Sequoia Capital, Morgan Stanley and Ark Invest. Its $22 billion valuation at the time was double the company’s $11 billion valuation in December and more than four times its $5 billion valuation in October.
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