Kalshi seeks to raise funds at a valuation of approximately $40 billion

According to informed sources, prediction market platform Kalshi is seeking to raise new funds at a valuation of approximately $40 billion, nearly double its previous fundraising target of $22 billion.

The financing could be completed as early as the third quarter of this year. If the transaction is successful, Kalshi will expand its valuation lead over competitor Polymarket, which was reportedly seeking funding at a valuation of $15 billion.

Previously, Kalshi CEO Tarek Mansour stated in an interview with CNBC that the company is considering an eventual initial public offering, but not before 2027. (coindesk)