The Information · Polymarket · CoinDesk
Kalshi in talks with Sequoia, Wellington for $750 million fund raise at $40 billion valuation
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Prediction market giant Kalshi is in advanced discussions with Sequoia Capital and Wellington Management for a new $750 million funding round at a $40 billion valuation, The Information reported, citing people familiar with the matter.
Key facts
- Prediction market giant Kalshi is in advanced discussions with Sequoia Capital and Wellington Management for a new $750 million funding round at a $40 billion valuation, The Information reported
- Kalshi’s annualized revenue increased to $4 billion in July, bolstered mostly by 2026 World Cup betting
- For Wellington, a Boston-based financial giant with $1.3 trillion in client assets under management (AUM), this funding round would be its first investment in Kalshi
- Kalshi is considering an IPO in 2027, its CEO Tarek Mansour said in June
Summary
Kalshi is in advanced talks with Sequoia Capital and Wellington Management to raise at least $750 million at a $40 billion valuation, according to people familiar with the matter. The round would deepen Sequoia’s existing stake and mark Wellington’s first investment in Kalshi, as the prediction market platform eyes a potential IPO in 2027. Kalshi, which raised $1 billion at a $22 billion valuation in May, now generates about $4 billion in annualized revenue—driven largely by sports contracts—and claims 95 percent of the U.S. prediction market by revenue. Sequoia, which is already an existing investor in Kalshi, and Wellington are considering leading the investment round, the, adding that the funding amount could be greater than $750 million.