COINTELEGRAPH · 2026-10-29 15:52 UTC

Kalshi raises $1B at $40B valuation as non-sports revenue run rate tops $1B

Kalshi closed a $1 billion Series G funding round at a $40 billion valuation, co-led by Wellington Management and Sequoia Capital. The prediction market platform's non-sports markets now generate over $1 billion in annualized revenue, expanding beyond sports betting into financial markets. Kalshi faces legal challenges including lawsuits from Utah and the CFTC over whether its sports contracts fall under state gambling laws or federal derivatives regulation.

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