Kalshi, a prediction market platform, is reportedly looking to raise new funds at a valuation of about $40 billion. This would nearly double its last valuation and put it further ahead of its blockchain-based competitor, Polymarket. The move comes as prediction markets are drawing more interest from institutional investors and regulators, making the sector one of the fastest-growing areas in digital finance.
A Financial Times report says Kalshi aims to finish its fundraising as soon as the third quarter of this year. If it succeeds, the company would be valued at about $40 billion, up from $22 billion in its last investment round.
This would put Kalshi well ahead of Polymarket, which is reportedly seeking funding at a valuation of about $15 billion.
In its previous funding round, Kalshi drew investments from major firms like Coatue Management, Sequoia Capital, Andreessen Horowitz, and Morgan Stanley. This shows strong institutional confidence in the prediction market industry.
Polymarket uses blockchain technology and settles in cryptocurrency, but Kalshi operates as a federally regulated exchange in the United States. This regulatory status has helped Kalshi attract traditional investors and institutions that want to work within established financial rules.
Prediction markets have grown quickly in the past year, with more users trading contracts tied to elections, sports, economic data, and other real-world events. Many analysts now see this sector as a new asset class that combines finance, forecasting, and data markets.
Kalshi is looking beyond private fundraising. In an interview with CNBC, CEO Tarek Mansour said the company has started talking about a possible initial public offering, but it does not plan to go public before 2027.
Competition with Polymarket is heating up. Kalshi benefits from its regulated US setup, while Polymarket has built a strong following among crypto users with its blockchain-based prediction markets, especially during major political events.
This latest fundraising shows that investors are becoming more confident that prediction markets could play a big role in future financial systems. Still, the industry faces more regulatory scrutiny, so long-term success will depend on both user growth and staying compliant as it expands worldwide.
Predictions market Kalshi in talks to raise funds at $40bn valuationhttps://t.co/TwVDdVDWwR
— Frank Chaparro (@fintechfrank) June 24, 2026
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