Kalshi's Valuation Doubles to 40 Billion in Six Months, Sequoia and Wellington Pour Another 750 Million

marsbitPublicado a 2026-08-14Actualizado a 2026-08-14

Resumen

Kalshi, a leading U.S. prediction market platform, is reportedly in advanced talks to raise at least $750 million from Sequoia Capital and Wellington Management at a valuation of $40 billion. This marks Wellington's first investment in the company, while Sequoia would deepen its existing stake. Kalshi previously raised $1 billion at a $22 billion valuation in May and is now targeting a potential IPO in 2027. According to sources, Kalshi's annualized revenue reached approximately $4 billion as of July, driven largely by sports contracts which account for over 80% of its trading volume. The company claims a 95% market share by revenue in the U.S. prediction market. Its competitor, Polymarket, reportedly sought funding at a $20 billion valuation, with ICE investing $600 million at a $15 billion valuation in August. Kalshi recently announced the return of Jeff Bandman, the lawyer who helped it secure a CFTC-regulated exchange license in 2020, as CEO of Kalshi Prime, its platform for margin-perpetual futures clients. Neither Kalshi, Sequoia, nor Wellington provided immediate comment.

Author: CoinDesk

Compiled by: TechFlow

TechFlow Insight: Prediction market leader Kalshi, which just raised $10 billion at a $22 billion valuation in May, is now set to secure at least $7.5 billion from Sequoia and Wellington at a $40 billion valuation. With annualized revenue surging to $40 billion, sports contracts contributing 80% of trading volume, and an IPO eyeing 2027, the compliant prediction market is becoming one of the most fiercely contested arenas for capital.

Image: Kalshi co-founder and COO Luana Lopes Lara. Source: Getty Images/Anna Webber

According to sources familiar with the matter, Kalshi is in advanced talks with Sequoia Capital and Wellington Management to raise at least $7.5 billion at a valuation of $40 billion.

This round would deepen Sequoia's existing stake and mark Wellington's first investment in Kalshi. The prediction market platform is considering an initial public offering (IPO) in 2027.

Kalshi raised $10 billion at a $22 billion valuation in May this year and currently has annualized revenue of approximately $40 billion, primarily driven by sports contracts. The company claims to hold a 95% share of the U.S. prediction market by revenue.

Prediction market giant Kalshi is in advanced negotiations with Sequoia Capital and Wellington Management for a new $7.5 billion funding round at a $40 billion valuation. The Information reported this news citing people familiar with the discussions.

According to the sources, Sequoia, an existing investor in Kalshi, and Wellington are considering leading the round, which could exceed $7.5 billion. Silicon Valley-based Sequoia, which manages $56 billion in assets, already has a board seat at Kalshi.

For Boston-based financial giant Wellington, which manages $1.3 trillion in client assets, this would be its first investment in Kalshi. Wellington has previously made private investments in companies before their public listings. Kalshi CEO Tarek Mansour stated in June that the company is considering an IPO in 2027.

Kalshi raised $10 billion at a $22 billion valuation in May this year, making it the top prediction market platform by revenue, followed by Polymarket. Polymarket was reportedly seeking funding at a valuation of $20 billion in its last round. Previously, Intercontinental Exchange, parent company of the New York Stock Exchange, invested $600 million in Polymarket at a $15 billion valuation in August.

Kalshi's annualized revenue increased to $40 billion in July, largely driven by betting on the 2026 World Cup. During the same period, Polymarket's revenue was only $1.1 billion. Sequoia Capital recently stated that Kalshi "now holds a 95% share of the U.S. prediction market."

The majority of Kalshi's revenue comes from sports contracts, accounting for over 80% of trading volume. Kalshi announced on Wednesday that lawyer Jeff Bandman, who helped the company secure its CFTC-regulated exchange license in 2020, is returning as CEO of Kalshi Prime. Kalshi Prime serves clients of Kalshi's margined perpetual futures business.

Sequoia, Wellington, and Kalshi did not immediately respond to CoinDesk's requests for comment.

Preguntas relacionadas

QWhat is the reported valuation of Kalshi in its new funding round, and who are the leading investors?

AThe new funding round is reported to value Kalshi at $40 billion, with Sequoia Capital and Wellington Management leading the investment.

QHow much did Kalshi's annualized revenue reportedly reach, and what is the main driver of this revenue?

AKalshi's annualized revenue reportedly reached $4 billion, primarily driven by sports contracts which contribute over 80% of its trading volume.

QHow has Kalshi's valuation changed between May and the current funding round?

AKalshi's valuation increased from $22 billion in May to $40 billion in the current funding round, nearly doubling in less than half a year.

QWhat major regulatory milestone did Kalshi achieve in 2020, and who was the lawyer that helped them achieve it?

AIn 2020, Kalshi obtained a CFTC-regulated exchange license. The lawyer who helped them achieve this is Jeff Bandman.

QWhat is Kalshi's reported market share in the US prediction market according to Sequoia, and what is its potential future plan for 2027?

AAccording to Sequoia, Kalshi holds 95% of the US prediction market by revenue. The company is considering an initial public offering (IPO) in 2027.

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