Wellington and Morgan Stanley back Kalshi at $40 billion days after Utah files criminal charges

Kalshi raised $1 billion in a Series G that values the prediction market at $40 billion, announced October 29, 2026, a day after Utah filed criminal charges against the company and its two co-founders. Institutional money led the round even as the legal fight over its sports contracts escalated on two fronts. The company said in its announcement: “Today, we’re announcing a $1 billion Series G at a $40 billion post-money valuation, co-led by Wellington and Sequoia.” The round, first reported the day it closed , was co-led by Wellington Management and Sequoia Capital. Ten others took part.