Kalshi Raises $1 Billion at $40 Billion Valuation in Series G

Kalshi raised $1 billion in a Series G round at a $40 billion valuation, marking a major funding milestone for the U.S. prediction-market operator as it plans new products and international expansion.

Wellington Management and Sequoia Capital co-led the round Kalshi announced Oct. 29. Investors also included a16z, Coatue, CapitalG and Morgan Stanley Investment Management.

The new valuation is 20 times the $2 billion valuation Kalshi reached in June 2025, about 16 months earlier. The company has disclosed more than 30 million cumulative accounts created and annualized trading volume above $1 trillion.

Kalshi plans to use the funding to expand its institutional business and international reach. Its product roadmap includes markets tied to stock indexes, perpetual contracts on individual stocks and computing capacity.

Sequoia partner Alfred Lin also made Kalshi’s 2020 Series A pitch deck public with the founders’ consent. Kalshi CEO Tarek Mansour has described the startup’s first five years as a period when little seemed to be going smoothly.