Kalshi targets a massive $40 billion valuation, widening lead over rival Polymarket
The prediction market operator, which is eyeing a potential public debut in 2027, could close a new funding round in Q3, according to a Financial Times report.
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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.
