Just-In: Kalshi Eyes To Raise More Capital At $40 Billion

Kalshi is reportedly revisiting a new capital raise that would value the company at some $40 billion. This move hinges on the swift growth of the regulated event-contract trading space in the United States.

Kalshi Looks To Raise Funds At $40 Billion Valuation

The New York-based company is in talks to raise additional funds from investors and may raise new money as soon as the third quarter of 2026, according to a Financial Times report. Negotiations are still underway, and the exact amount of the valuation or fundraising has not been made public.

The fundraising effort follows a huge investment round that had Kalshi valued at $22 billion with an investment of $1 billion just weeks ago. This valuation was an even larger jump from $11 billion that was reported in late 2025 and around $5 billion earlier this year. The latest reports come amid Kalshi debuting perpetual futures tied to Near, Zcash, Shiba Inu, and Dogecoin.

With the valuation of the company increasing, so has the interest of investors in it. The previous rounds saw investment from leading companies such as Sequoia Capital, Andreessen Horowitz, Coatue Management and Morgan Stanley.

However, Kalshi has yet to comment on the latest fundraising talks.

Surge In Trading Volume Despite Competition

Since prediction markets have grown beyond the realm of politics, Kalshi has registered massive growth in user activity. Contests can be based on real-world outcomes like the performance of the economy, the weather, a sporting event or the financial markets.

Kalshi’s trading volume has skyrocketed since last year. The report quoted data indicating that the volume has hit above $17 billion per month. It marks a major increase from the figure of less than $5 billion a year ago. The platform’s primary business is sports betting and multi-event wagering is a growing preference among its users.

However, due to the growing market share, the company has also faced competition from existing financial market players due to its growth. For context, derivatives giant CME Group lost its bid to become the first U.S. exchange to launch crypto-related perpetual futures last month.

Thereafter, CME Group filed a lawsuit against the U.S. Commodity Futures Trading Commission over its approval of Kalshi’s products. At the time, the prediction market platform had launched Bitcoin, Ethereum, XRP, and Solana perps. The contracts are similar and are meant to compete with products that are already available in traditional futures markets, CME says.

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