Prediction market Kalshi completes $1 billion funding round at a $40 billion valuation, possibly its last round before IPO

BlockBeats news, October 29 — Tarek Mansour, co-founder and CEO of prediction market platform Kalshi, said the company has completed a $1 billion Series G funding round led by Sequoia Capital and Wellington Management, at a valuation of $40 billion, nearly double the valuation of competitor Polymarket's most recent funding round. Participants include Baillie Gifford, Morgan Stanley Investment Management, Coatue Management, and Andreessen Horowitz. The previous round in May valued the company at $22 billion.

The round is widely seen as the last private financing before an IPO. Mansour said there have been related discussions but declined to comment on when or whether the company would go public, and said the funds will be used to advance the product roadmap for retail and institutional clients.