Kalshi targets $40 billion valuation in new funding round
US‑based prediction‑market platform Kalshi is in talks to raise fresh capital at a valuation of roughly $40 billion, nearly doubling the $22 billion figure from its May 2026 Series F round that raised $1 billion from investors including Coatue, Andreessen Horowitz, Sequoia Capital, Morgan Stanley and Ark Invest. The new financing could close in the third quarter of 2026.
CEO Tarek Mansour said an IPO is “on the table, but the timing will not be accelerated,” indicating a public listing is unlikely before 2027. The company has surpassed $2 billion in annualised revenue and reported monthly trading volumes of $21.1 billion, well ahead of rival Polymarket’s $9.7 billion. Co‑founder and COO Luana Lopes Lara of Brazil could see her personal fortune rise to about $5 billion if the round proceeds.
Kalshi’s rapid growth occurs amid ongoing regulatory scrutiny in the United States, with several state authorities challenging the legal status of prediction‑market contracts, adding uncertainty to its expansion plans.