Kalshi has raised another $1 billion at a $40 billion valuation, nearly doubling its value in five months as the prediction market operator’s rapid expansion continues despite mounting legal challenges to its sports contracts.
The Series G funding round, announced Thursday, was co-led by Wellington Management and Sequoia Capital, with participation from Andreessen Horowitz, Coatue, Morgan Stanley and other Kalshi investors.
Kalshi’s valuation has increased twentyfold since June 2025, when it was valued at $2 billion. It then climbed to $5 billion in October, $11 billion in December and $22 billion this May.
That surge has coincided with explosive growth since the company introduced sports event contracts in January 2025, which have since accounted for roughly 87% of its trading volume, according to Ticker-Tracker.com.
