Kalshi is in advanced talks with Sequoia Capital and Wellington Management to raise at least $750 million at a $40 billion valuation. The round would nearly double its May valuation while the company reports $4 billion in annualized revenue and eyes a 2027 IPO.
The new round would nearly double the $22 billion valuation Kalshi achieved when it raised $1 billion in May.
The firm reported approximately $4 billion in annualized revenue as of July, with sports contracts driving over 80 percent of its trading volume.
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ESMA has warned that binary prediction-market event contracts functioning as financial instruments are prohibited for retail clients under the EU’s binary options ban. The move comes as platforms such as Kalshi and Polymarket expand rapidly and attract traditional-finance interest.
The CFTC sued Kentucky after the state targeted prediction markets Kalshi and Polymarket, marking the agency's ninth such lawsuit and the first against a state with a Republican attorney general. The dispute centers on whether event contracts fall under federal CFTC jurisdiction or state gambling regulations, with 20 states now involved in related litigation.
The CFTC sues Wisconsin after the state targets prediction market platforms like Kalshi and Coinbase as unlicensed gambling. The action continues Chairman Mike Selig's campaign asserting exclusive federal jurisdiction over event contracts.
The Boring Co. raised $3 billion in a funding round led by the United Arab Emirates, achieving a $23 billion valuation to support its tunnel projects. The financing highlights the company's shift toward Middle East growth while its sole operational loop remains in Las Vegas amid stalled U.S. plans and local opposition.
Mistral raised $3.5 billion in a round led by Samsung, pushing its post-money valuation above 21 billion euros as it builds its own data centers. The French startup aims to differentiate from OpenAI and Anthropic by creating custom AI tools for individual companies while planning 100% compute growth over five years.
