Kalshi reportedly seeking $40 billion valuation, nearly doubling last raise

Prediction market platform Kalshi is in talks to raise funds at a $40 billion valuation, an eightfold increase in less than a year, reflecting surging investor demand for regulated event contracts.

• Kalshi's valuation would jump from $22 billion in May to $40 billion, per the Financial Times.
• The company's monthly trading volume hit $17.9 billion in May, outpacing rival Polymarket at $7.1 billion.
• Kalshi faces legal challenges from states like Kentucky that call its sports contracts unlicensed gambling.
• The CFTC has sued multiple states to assert exclusive authority over prediction markets.

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