Kalshi Hits $40B Valuation; Prediction Markets Go Mainstream
Prediction market platform Kalshi closes a $1B funding round led by Sequoia and Wellington at a $40B valuation, cementing prediction markets as a major institutional category.
What we know
An account on X congratulates the Kalshi team on closing a $1B round co-led by Sequoia and Wellington, with a16z and Morgan Stanley also participating, at a $40B valuation. This validates prediction markets as a mature institutional product category — Kalshi previously won a court battle to offer event contracts in the US. The milestone comes as Polymarket continues driving mainstream awareness via breaking news — @Polymarket — underscoring the dual-platform dominance of this sector.
How the story developed
Prediction market platform Kalshi closes a $1B funding round led by Sequoia and Wellington at a $40B valuation, cementing prediction markets as a major institutional category.
Prediction-market platform Kalshi and its two top executives face felony and misdemeanor charges in Utah. Separately, Hyperliquid faces Bloomberg-reported spoofing allegations involving $170M+ in oil perp orders.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.