Prediction Market Kalshi Now Worth $40 Billion After $1 Billion Round, Eyes Single-Stock Perps

Sequoia Capital and Wellington Management co-led the raise, which lifts the prediction market from a $22 billion valuation in May and will fund leveraged contracts and an institutional push. Kalshi has raised $1 billion at a $40 billion valuation and is branching out from prediction markets, CNBC reported . The new products it plans to fund include single-stock perps, leveraged versions of its event contracts and a market for trading compute prices. Sequoia Capital and Wellington Management reportedly co-led the round.