Prediction markets platform Kalshi is in advanced discussions to raise around $1 billion in a new funding round at a $40 billion valuation. According to the proposed structure, existing investor Sequoia Capital and Wellington Management may lead the round, with Tiger Global Management and Dragoneer Investment Group also being considered for participation.

In May, Kalshi Raised $1 Billion at a $22 Billion Valuation

In May, the company closed a $1 billion Series F round at a $22 billion valuation, doubling its December figure.

Talks for $40 Billion Valuation Reported in June

The first reports that Kalshi was seeking funding at a $40 billion valuation appeared in June; at that time, it was also indicated that the deal could close as early as the third quarter.