Kalshi seeks funding at $40B valuation, nearly doubling last raise: FT

▤ Summary

Kalshi is reportedly seeking new funding at a $40 billion valuation, nearly double its last round just weeks earlier. The company already raised $1 billion in May at a $22 billion valuation, and a new round could close as soon as Q3. Investor interest appears to be rising quickly as prediction markets gain traction and Kalshi expands trading volume. The report also notes growing competition from Polymarket, Cboe, and possible moves from Meta. Legal scrutiny remains a major backdrop as states and regulators continue to challenge prediction market platforms.

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