Kalshi closed a $1 billion Series G funding round at a $40 billion valuation, Reuters reported. The round had been reported in September as a financing Kalshi was seeking; the later announcement confirmed its completion. Wellington Management and Sequoia Capital co-led the round.
Kalshi said its non-sports markets generate more than $1 billion in annualized revenue, according to The Wall Street Journal. The company faces a legal dispute over whether its sports contracts fall under state gambling laws or federal derivatives regulation. Utah filed criminal charges against Kalshi and its co-founders, Reuters reported, after the US Commodity Futures Trading Commission sued to block state enforcement.
