Kalshi disclosed a $1 billion funding round to Reuters on October 29, 2026, valuing the prediction-market operator at $40 billion. Reuters reported that Sequoia Capital and Wellington Management co-led the round.
Kalshi has launched cryptocurrency perpetual futures and expanded into equity indexes and metals after regulatory approval. It also plans more derivatives products, but state authorities are challenging its sports-related contracts, arguing that they fall under state gambling oversight rather than federal derivatives rules. Some appellate rulings have favored state authority; sports contracts have reportedly made up about 65% of Kalshi’s revenue at certain points.
