Kalshi Seeks Funding at $40 Billion Valuation as Monthly Trading Volume Tops $17 Billion
Updated
Updated · Financial Times · Jun 24
Kalshi Seeks Funding at $40 Billion Valuation as Monthly Trading Volume Tops $17 Billion
3 articles · Updated · Financial Times · Jun 24
Summary
$40 billion is the valuation Kalshi is discussing with investors in a new funding round that could close as soon as the third quarter.
The talks follow a $1 billion raise last month at a $22 billion valuation, extending a sharp climb from $11 billion in December 2025 and $5 billion earlier last year.
More than $17 billion in trading volume last month has fueled that growth, up from less than $5 billion a year earlier, with sports bets making up about 65% of activity.
Kalshi is using that momentum to expand products and challenge incumbents including CME, which last week sued the CFTC over the regulator's approval of Kalshi's perpetual crypto futures.
The expansion still faces legal risk: Arizona filed criminal charges in March and a Massachusetts judge barred Kalshi's sports markets in February, while the company argues its contracts fall under federal derivatives oversight.
With a $40B valuation amid legal chaos, is Kalshi a financial pioneer or a house of cards about to fall?
As legal battles escalate, will prediction markets be regulated as innovative finance or just another form of online gambling?
Kalshi’s Meteoric Rise: $22B Valuation, 99% Market Share, and the Federal-State Regulatory Showdown
Overview
As of June 2026, Kalshi has become a dominant force in the prediction market industry, driven by significant expansion and strong investor enthusiasm. The company recently completed a major fundraising round, reflecting the investment community’s confidence in its innovative and regulated platform. Kalshi’s rapid growth and high valuation highlight its perceived value in evolving financial markets. By offering a unique marketplace for trading real-world event contracts, Kalshi stands out from competitors and continues to attract both consumers and institutional investors, solidifying its leadership and setting the stage for further growth.