Financial Times · Polymarket · Andreessen Horowitz · CoinDesk
Kalshi is seeking to raise fresh capital at a valuation of about $40 billion
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The prediction markets platform could close the fundraising as soon as the third quarter of this year, FT said.
Key facts
- In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024
- Kalshi is seeking to raise fresh capital at a valuation of about $40 billion, nearly doubling the $22 billion valuation it targeted in its previous funding round, according to a Financial Times
- Kalshi's previous funding round, which valued the company at $22 billion, attracted a roster of high-profile investors including Philippe Laffont's Coatue Management, Sequoia Capital, Andreessen
- If completed, the deal would widen Kalshi's valuation lead over rival Polymarket, which was last reported to be seeking funding at $15 billion
Summary
Kalshi is seeking to raise new capital at a valuation of about $40 billion, nearly doubling the $22 billion valuation from its previous funding round, FT reported, citing people familiar with the matter. A successful deal, which could close as soon as the third quarter, would widen Kalshi’s lead over rival Polymarket, which has been seeking funding at a $15 billion valuation. The fundraising talks come as Kalshi, a federally regulated U.S. exchange backed by major investors, begins weighing an eventual initial public offering, which its chief executive said would not occur before 2027.