Kalshi raises $1 billion at $40 billion valuation as it expands beyond prediction markets

By Pritam Biswas and Anirban Sen Oct 29 (Reuters) Kalshi has raised $1 billion in a new funding round that values the prediction-market startup at $40 billion, the company said on ​Thursday, as it pushes to expand beyond event ‌contracts and compete more directly with traditional exchanges. The fundraising comes as New York-based Kalshi seeks to expand beyond its prediction market roots in sports and elections to become a multi-asset trading platform. The move pits the startup ‌against ​traditional exchange heavyweights such as CME Group ⁠and New York Stock ⁠Exchange parent Intercontinental Exchange. The round was co-led by Sequoia and Wellington. Tiger Global Management and Dragoneer Investment Group also took part, a source familiar with the matter said. The financing comes ​just over five months after Kalshi raised another $1 billion in a Coatue-led round that valued the company at $22 billion. Its ⁠valuation has risen by nearly 82% ⁠since then. In 2026, Kalshi moved into perpetua