Prediction market platform Kalshi is in advanced talks with existing and new investors, including Tiger Global and Dragoneer, to raise approximately $1 billion. This funding round is expected to close in the coming weeks, valuing the company at around $40 billion, an increase of about 82% from its $22 billion valuation in a $1 billion funding round in May. Existing investors Sequoia Capital and Wellington Management are reportedly in discussions to lead this round. Kalshi has also held preliminary discussions regarding a potential initial public offering (IPO) in the coming years. Separately, Reuters reported that Polymarket is also seeking new funding of approximately $1 billion.