Kalshi Raises $1 Billion in Round Co-Led by Sequoia, Wellington

Kalshi has raised $1 billion in a Series G co-led by Sequoia and Wellington Management, valuing the U.S. prediction-market platform at $40 billion and lifting its valuation from $22 billion in May. Kalshi co-founder and CEO Tarek Mansour announced the completed round on Oct. 29. Other participants included Baillie Gifford, Morgan Stanley Investment Management, Coatue Management and Andreessen Horowitz. The new valuation is $18 billion above the May mark, an increase of about 82% in five months. It is also nearly twice Polymarket's valuation in its latest financing round.