Kalshi Raises $1 Billion at a $40 Billion Valuation

What changed

Kalshi nearly doubled its valuation to $40 billion in five months after raising $1 billion from Sequoia and Wellington. The deal places the prediction-market startup among the most highly valued names in technology.

Why it matters

The striking number is not only the size of the cheque. It is the speed: a valuation can move from ambitious to enormous in less than half a year when investors decide a company sits on a powerful new market.

For Kalshi, the money brings more room to build, hire and expand its prediction-market business. For Sequoia and Wellington, it represents a large bet that this category can support a company worth tens of billions, not merely attract curiosity.

The exact financing date, valuation terms and use of the funds are not provided, so the reported $40 billion figure should be treated as a headline valuation rather than a complete picture of the transaction.