Kalshi Seeks $750 Million Funding at $40 Billion Valuation

Prediction market platform Kalshi is seeking at least $750 million in funding at a $40 billion valuation, up from $22 billion six months ago. According to ChainCatcher, the platform was approved by the U.S. Commodity Futures Trading Commission as a designated contract market in 2021. As of September 4, Kalshi recorded $14.1 billion in trading volume over the past 30 days, compared with $3.1 billion for Polymarket. Kalshi accounted for about 82% of the combined trading volume between the two platforms, and more than 80% of its volume came from sports events.