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Kalshi targets a massive $40 billion valuation, widening lead over rival Polymarket
Key takeaways
- The prediction markets platform could close the fundraising as soon as the third quarter of this year, FT said.
- If completed, the deal would widen Kalshi's valuation lead over rival Polymarket, which was last reported to be seeking funding at $15 billion.
- Competition in the sector has intensified as firms race to capture users and expand product offerings.
The prediction markets platform could close the fundraising as soon as the third quarter of this year, FT said.
If completed, the deal would widen Kalshi's valuation lead over rival Polymarket, which was last reported to be seeking funding at $15 billion. The two platforms have emerged as the dominant names in the prediction markets sector, while many other entrants have increased the industry's competitive landscape.
Kalshi's previous funding round, which valued the company at $22 billion, attracted a roster of high-profile investors including Philippe Laffont's Coatue Management, Sequoia Capital, Andreessen Horowitz and Morgan Stanley.
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