Kalshi’s $1 Billion Round Made Up Nearly Half of October Crypto VC Funding

Kalshi’s $1 billion financing accounted for nearly half of October’s $2.099 billion in crypto venture funding, even as the month’s total remained well below its year-earlier level. Kalshi, a prediction market regulated by the U.S. Commodity Futures Trading Commission (CFTC), completed a $1 billion financing that valued the company at $40 billion. Sequoia and Wellington Management jointly led the round. Kalshi’s previous financing in May valued it at $22 billion. The $1 billion raise represented about 48% of the month’s total.