Kalshi Targets $40 Billion Valuation

New YorkKalshi is raising fresh capital at a $40 billion valuation, nearly double its last round.

The US-regulated exchange, backed by Sequoia and Andreessen Horowitz, targets nearly triple the $15 billion sought by crypto-based rival Polymarket.

Kalshi’s CEO said an IPO will not come before 2027; the round is expected to close in Q3 2026.

Sources: CoinDesk