Kalshi Secures $1B at $40B Valuation, Doubling Its Worth Since May
WHO:
NY Post - Utah charged Kalshi and its founders.
NY Post - Kalshi is a prediction-market company; its co-founders said they had dated in the past.
Cointelegraph - Kalshi has partnerships with the NBA and S&P Dow Jones Indices.
Techmeme - Sequoia and Wellington Management led Kalshi’s funding round; Lauren McCarthy of The New York Times reported the funding.
Techmeme - Kalshi’s rival Polymarket was also identified as a prediction market.
WHAT:
NY Post - Utah filed 14 felony counts alleging violations of the state’s anti-gambling laws.
Inc - Kalshi is exploring financial contracts tied to AI computing power in a potential $5 trillion compute derivatives market.
Inc - Kalshi’s regulatory battles are intensifying.
Techmeme - Kalshi’s valuation rose from $22 billion after its May funding round to $40 billion.
NY Post - Kalshi raised $1 billion in a funding round at a $40 billion valuation.
Cointelegraph - Kalshi’s non-sports revenue run rate topped $1 billion.
Cointelegraph - Kalshi was expanding its partnerships with the NBA and S&P Dow Jones Indices while facing legal challenges over its sports contracts.
Techmeme - Kalshi raised $1 billion in a round led by Sequoia and Wellington Management, valuing the company at $40 billion.
Techmeme - The $40 billion valuation was nearly double Polymarket’s market value, according to the article.
Techmeme - The round was described as Kalshi’s last raise before an IPO.
WHERE:
No source in the provided articles specified a location for the funding round.
WHEN:
Techmeme - The new funding round was described as Kalshi’s last raise before an IPO.
WHY:
Inc - Traditional exchanges could pose stiff competition to Kalshi in AI-computing-power contracts.
No source in the provided articles stated why the funding was raised.
HOW:
Techmeme - Kalshi secured the funding through a $1 billion round led by Sequoia and Wellington Management.
(UPDATED October 30, 2026 12:26 UTC)
Utah charged Kalshi and its founders with felony gambling violations. The prediction-market company raised $1 billion at a $40 billion valuation. Kalshi is exploring contracts tied to AI computing power as legal challenges intensify.
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(UPDATED October 30, 2026 02:59 UTC)
Utah has charged prediction-market company Kalshi and its founders with 14 felony counts, alleging violations of the state’s anti-gambling laws over sports contracts. At the same time, Kalshi raised $1 billion in a funding round led by Sequoia and Wellington Management, valuing the company at $40 billion, nearly double rival Polymarket’s market value. Kalshi is also exploring contracts tied to AI computing power in a potential $5 trillion market, while expanding partnerships with the NBA and S&P Dow Jones Indices and reporting more than $1 billion in non-sports revenue run rate.
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(UPDATED October 29, 2026 21:03 UTC)
Kalshi raised $1 billion in a funding round led by Sequoia and Wellington Management, lifting its valuation to $40 billion. The prediction-market company says its non-sports revenue run rate has topped $1 billion, and it is expanding partnerships with the NBA and S&P Dow Jones Indices while facing legal challenges over sports contracts. Kalshi is also exploring contracts tied to AI computing power in a potential $5 trillion market, as regulatory battles intensify and traditional exchanges loom as competitors.
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(UPDATED October 29, 2026 19:03 UTC)
Prediction-market company Kalshi raised one billion dollars in a funding round led by Sequoia and Wellington Management, lifting its valuation to $40 billion from $22 billion after its May round. The company’s non-sports revenue run rate has topped one billion dollars, and it is expanding partnerships with the NBA and S&P Dow Jones Indices while facing legal challenges over sports contracts. The funding was described as Kalshi’s last raise before an IPO, and its valuation is nearly double rival Polymarket’s market value.
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(UPDATED October 29, 2026 18:01 UTC)
Prediction-market company Kalshi has raised one billion dollars in a funding round led by Sequoia and Wellington Management, valuing it at $40 billion. The company’s non-sports revenue run rate has topped one billion dollars, and it is expanding partnerships with the NBA and S&P Dow Jones Indices while facing legal challenges over sports contracts. The round was described as Kalshi’s final raise before an IPO, and the company’s valuation is nearly double rival Polymarket’s market value.