Svmuu News: Prediction market platform Kalshi is in talks to raise a new round of funding at a valuation of approximately $40 billion, with the deal potentially closing as early as the third quarter. Kalshi just completed a $1 billion funding round last month, with investors including Sequoia Capital, Andreessen Horowitz, Coatue, and Morgan Stanley, at a valuation of $22 billion at the time.
Kalshi CEO Tarek Mansour said the company is considering an IPO but will not go public in 2026; the listing is not expected to occur until at least late 2027 or 2028. Kalshi reported that as of April 2026, its annualized trading volume reached $178 billion, a 32-fold increase year-over-year.
Kalshi is currently embroiled in a legal dispute with U.S. state and federal regulators over jurisdiction in the futures market; the dispute centers on whether sports event contracts constitute derivatives regulated by the CFTC or illegal gambling. CME has sued the CFTC over its approval of Kalshi’s “perpetual” futures, while Kentucky filed a lawsuit against Kalshi and Polymarket this month, prompting the CFTC to subsequently sue Kentucky to block its enforcement action. (Decrypt)