Kalshi has raised $1 billion in a Series G funding round, reaching a $40 billion valuation as the prediction market platform expands into financial markets. Wellington Management and Sequoia Capital co-led the round, which strengthens Kalshi’s position amid growing demand for event-based trading.
The company also reported more than $1 billion in annualized revenue from non-sports markets, according to The Wall Street Journal. Consequently, its business increasingly extends beyond sports-related contracts.
Kalshi Expands Beyond Sports Trading
Kalshi’s latest valuation represents an increase from $22 billion in May, when Coatue Management led its previous $1 billion funding round. Besides, the platform recorded approximately $15.8 billion in trading volume over the past 30 days, according to DefiLlama data.
Additionally, Kalshi recently secured partnerships with the NBA and S&P Dow Jones Indices. These agreements could help attract traders interested in financial benchmarks and economic outcomes. Significantly, the partnerships support Kalshi’s efforts to diversify its markets and revenue sources.
Legal Disputes Challenge Expansion
However, Kalshi faces growing legal pressure over its sports contracts in the United States. Utah recently filed criminal charges against the company and its co-founders over alleged illegal gambling.
Meanwhile, the Commodity Futures Trading Commission has sued Utah to challenge state enforcement. The dispute centers on whether federal derivatives rules or state gambling laws govern these contracts.
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