Prediction market platform Kalshi has completed a $1 billion funding round, valuing the company at $40 billion post-money, a significant increase from $5 billion a year ago. The round was co-led by Sequoia Capital and Wellington Management. Kalshi plans to use the new capital to develop leveraged event contracts, perpetual futures linked to individual stocks, and computationally priced trading markets, as well as to continue investing in its institutional business.