Kalshi reportedly in talks to raise $1 billion at $40 billion valuation

Kalshi is reportedly in advanced talks to raise approximately $1 billion at a $40 billion valuation. People familiar with the matter said existing investor Sequoia Capital and Wellington Management are in talks to lead the round. They said the round could include Tiger Global Management and Dragoneer Investment Group. Kalshi closed a $1 billion Series F round in May at a $22 billion valuation. That valuation was double its December valuation. Reports that Kalshi was seeking funding at a $40 billion valuation first emerged in June. The Financial Times reported on June 24 that Kalshi was in talks to raise funds at a $40 billion valuation. It said the round could close as soon as the third quarter of this year. Kalshi, Sequoia Capital, Wellington Management, Tiger Global Management and Dragoneer Investment Group did not immediately respond to requests for comment.