Kalshi raises $1 billion at a $40 billion valuation as it expands beyond prediction markets

Kalshi has raised $1 billion at a $40 billion valuation as it expands beyond prediction markets, according to Reuters’ report published Thursday, Oct 29, 2026.

Funding and expansion

Sequoia and Wellington co-led the financing round, Reuters reported. Tiger Global and Dragoneer also participated.

The fundraising puts Kalshi’s expansion alongside a substantial new capital raise. However, the available Reuters summary does not specify which businesses the company plans to enter or how it will allocate the proceeds.

The full source text was unavailable. Details beyond the headline and partial summary—including the expansion timetable—could not be established from the supplied material.

What it means for prediction markets

• The $1 billion financing and $40 billion valuation are the central reported developments for readers tracking investment in prediction-market operators.
• Kalshi’s move beyond prediction markets raises questions about its future business mix, but the available material does not establish any changes to its existing markets or products.