Kalshi closed a $1 billion Series G round on October 29, valuing the company at $40 billion, it said in a blog post.
On Tuesday, the Commodity Futures Trading Commission sued to stop states from shutting down prediction markets under their own gambling laws. On Wednesday, Utah filed criminal charges against Kalshi and its co-founders.
Wellington Management and Sequoia Capital co-led the round, with Baillie Gifford, Andreessen Horowitz, Coatue, Morgan Stanley Investment Management and Hudson River Trading also participating. Kalshi was valued at $22 billion in a Series F round led by Coatue in May 2026.
The company is expanding beyond sports and election betting: annualized revenue from its other business lines topped $1 billion, and total annualized trading volume on the platform reached $1 trillion. Kalshi struck a deal with S&P Dow Jones Indices to launch contracts based on its financial indexes, while crypto trading volume hit $140 billion annualized.
Perpetual futures have logged $83 billion in volume since launch and drawn more than 500,000 traders.
The platform has more than 30 million accounts created and accounts for over 75% of US prediction market trading volume. Institutional investors, about 500 entities active in September, drive roughly a quarter of trading volume.
