Summary
- Kalshi is in advanced talks with Sequoia Capital and Wellington Management to raise at least $750 million at a $40 billion valuation, as reported by people familiar with the matter.
- The round would deepen Sequoia’s existing stake and mark Wellington’s first investment in Kalshi, as the prediction market platform eyes a potential IPO in 2027.
- Kalshi, which raised $1 billion at a $22 billion valuation in May, now generates about $4 billion in annualized revenue—driven largely by sports contracts—and claims 95 percent of the U.S. prediction market by revenue.
Prediction market giant Kalshi is in advanced discussions with Sequoia Capital and Wellington Management for a new $750 million funding round at a $40 billion valuation, The Information reported, citing people familiar with the matter.
Sequoia, which is already an existing investor in Kalshi, and Wellington are considering leading the investment round, the sources stated, adding that the funding amount could be greater than $750 million. The Silicon Valley-based Sequoia, which has $56 billion in assets under management, already has an executive on Kalshi’s board of directors.
For Wellington, a Boston-based financial giant with $1.3 trillion in client assets under management (AUM), this funding round would be its first investment in Kalshi. Wellington has made private investments in companies leading up to their initial public offerings (IPO). Kalshi is considering an IPO in 2027, its CEO Tarek Mansour stated in June.
