Kalshi is in talks to raise funds at a $65 billion valuation, according to Bloomberg, citing people familiar with the matter. The round is not reported as complete, and CEO Tarek Mansour has not confirmed it. He has acknowledged discussions about a possible IPO, but said it would not happen in 2026.
The proposed valuation is above the $40 billion Kalshi reached after a $1 billion funding round in October. At least 22 states dispute Kalshi’s claim that its sports markets are swaps, while 38 attorneys general say prediction markets must comply with state gambling laws. The CFTC, by contrast, says these products fall under its exclusive federal oversight.
