Kalshi chases $1bn at $40bn valuation from Tiger Global
Tiger Global & Dragoneer are among prospective investors in the round, sources told Cryptobriefing.
The hit
Kalshi is reportedly in advanced talks to raise roughly $1bn at a valuation that would nearly double in weeks, according to Cryptobriefing. Tiger Global Management & Dragoneer Investment Group are among the prospective backers, sources told the outlet. Existing investor Sequoia Capital may lead the round alongside Wellington Management.
Why it matters
A price tag that high would make Kalshi worth more than many listed exchanges, testing how far investors will bid up a CFTC-regulated platform that controls over 90% of US prediction market activity. The company has also faced regulatory challenges in various states, where rules can differ sharply from one jurisdiction to the next, raising the stakes on whether growth can outrun that pressure.
The record
| Valuation jump | Almost 82% rise from $22bn at Series F, May 2026, to a reported $40bn |
|---|---|
| Funding history | $300m at $5bn (Oct 2025), $1bn at $11bn (Dec 2025), $1bn at $22bn (May 2026, led by Coatue Management) |
| Trading volume | Annualised volume tripled to $178bn from $52bn over six months to May 2026 |
| Institutional surge | Institutional trading volume up 800% over the same period |
| Revenue | Annualised revenue exceeds $1.5bn, per Cryptobriefing |
What happens next
Watch for the round to close, which would take Kalshi’s total private capital raised past $3bn in under a year.
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