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

The funding round comes as Kalshi expands its partnerships with the NBA and S&P Dow Jones Indices while facing legal challenges over its sports contracts. Prediction market platform Kalshi has closed a $1 billion funding round at a $40 billion valuation, Reuters reported Thursday, as the company expands beyond sports betting into financial markets. The Series G round was co-led by Wellington Management and Sequoia Capital. Kalshi also said its non-sports markets now generate more than $1 billion in annualized revenue, according to The Wall Street Journal.