Kalshi raises $1 billion at $40 billion valuation, non-sports revenue tops $1 billion annualized

Prediction market platform Kalshi closed a $1 billion Series G funding round at a $40 billion valuation, co-led by Wellington Management and Sequoia Capital. The company's non-sports markets now generate over $1 billion in annualized revenue, according to The Wall Street Journal. This round confirms completion of financing first reported in September, following a $1 billion Series F at a $22 billion valuation in May. Kalshi also reported approximately $15.8 billion in trading volume over the past 30 days. The expansion comes amid legal challenges, including partnerships with the NBA and S&P Dow Jones Indices, and regulatory disputes with the CFTC and Utah state authorities.