Kalshi in talks for a $1 billion round at a valuation of around $40 billion

According to Reuters, the deal is expected to close in the coming weeks, and the valuation is almost twice May’s $22 billion. Polymarket is also in talks to raise $1 billion.

Facts

According to Capital News, Tiger Global and Dragoneer are participating in the talks, and Sequoia Capital and Wellington may lead the round. The valuation is almost twice May’s $22 billion.
According to Capital News, Kalshi wants to become a universal trading platform competing with CME and ICE. Polymarket is also in talks for $1 billion. [Capital News, 30 September 2026]
Reuters reports that Kalshi is at an advanced stage of talks to raise $1 billion in new financing. [@rickler_feed, 29 September 2026]
The round’s valuation could be around $40 billion. This was reported by the markettwits channel, citing talks about a new round. [@markettwits, 29 September 2026]

Watching

Who will lead the round and whether the deal will close in the coming weeks at a valuation of around $40 billion.

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