Kalshi Hits $40 Billion Valuation After Another $1 Billion Raise

Prediction-market operator Kalshi raised another $1 billion, led by Sequoia Capital and Wellington Management, lifting its valuation to $40 billion. That is nearly 82% above its $22 billion valuation in May and marks its second billion-dollar raise in roughly five months. Traders should watch Kalshi's push into derivatives exchanges, a sign that event-based trading is drawing serious institutional capital.