Kalshi Is Now Worth More Than Flutter and DraftKings Combined, a Day After Utah Charged It

Kalshi raised $1 billion in a Series G round at a $40 billion post-money valuation, the prediction-market exchange announced on October 29. The announcement came a day after Utah’s attorney general filed felony charges against the company and its two co-founders over promoting online gambling. The new price compares with the $22 billion valuation Kalshi set in its Series F round in May. Kalshi put its annualized revenue outside sports above $1 billion. The company also said more than 30 million accounts have been opened on the exchange and that it handles more than 75% of prediction-market trading volume.