Kalshi Seeks $40B Valuation Weeks After $1B Raise: FT (opens original article in a new tab)

Kalshi is seeking a $40 billion valuation amid legal challenges over its prediction market contracts, with potential IPO plans in 2027 or 2028.

• Kalshi is seeking a $40 billion valuation, up from $22 billion after a $1 billion raise
• Kalshi's CEO mentioned considering an IPO but not in 2026, with possible listings in 2027 or 2028
• Kalshi faces legal battles over whether its sports contracts are regulated derivatives or illegal gambling
• Kalshi's trading volume reached $178 billion annually by April 2026, up 32x year-on-year