Kalshi raises $1B at $40B valuation as non-sports revenue run rate tops $1B
The funding round comes as Kalshi expands its partnerships with the NBA and S&P Dow Jones Indices while facing legal challenges over its sports contracts.
The funding round comes as Kalshi expands its partnerships with the NBA and S&P Dow Jones Indices while facing legal challenges over its sports contracts.
Prediction market platform Kalshi has closed a $1 billion funding round at a $40 billion valuation, Reuters reported Thursday, as the company expands beyond sports betting into financial markets.
The Series G round was co-led by Wellington Management and Sequoia Capital. Kalshi also said its non-sports markets now generate more than $1 billion in annualized revenue, according to The Wall Street Journal.
Kalshi was valued at $22 billion in May, when it completed a $1 billion Series F funding round led by Coatue Management. At the time, the company reported an annualized revenue run rate exceeding $1.5 billion.