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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