Kalshi Seeks $750 Million Funding at $40 Billion Valuation

Prediction market platform Kalshi is seeking at least $750 million in funding at a $40 billion valuation, doubling its valuation from six months ago. The platform, which was approved as a designated contract market by the Commodity Futures Trading Commission (CFTC) in 2021, recorded $14.1 billion in trading volume over the 30 days ending September 4. This figure accounts for approximately 82% of the combined volume between Kalshi and Polymarket, with over 80% of Kalshi's volume driven by sports events.