Bloomberg says Kalshi is in talks for a new round of financing at about a $65 billion valuation
Bloomberg News reported on November 12, citing people familiar with the matter, that prediction market platform Kalshi is in talks with investors for a new round of financing at a valuation of about $65 billion. The report said the previous round had originally been expected to be the last round before an IPO, but the company decided to raise money again in the private market.
Kalshi completed a round of financing at the end of October, raising $1 billion at a post-money valuation of $40 billion, co-led by Sequoia and Wellington. That round came only about five months after its $1 billion financing in May at a $22 billion valuation. The company is pushing to expand its business from event contracts into a multi-asset trading platform.
Original source:
Title: Kalshi in talks to raise money at $65 billion valuation, Bloomberg News reports
Publisher: Reuters
Publication date: 2026-11-12
URL: reuters.com/business/finance/kalshi-talks-raise-money-65-billion-valuation-bloomberg-news-reports-2026-11-12
Source type: media report (relaying Bloomberg News and people familiar with the matter)
Verification status: The report content was actually read in this instance, verification date 2026-11-12
Supporting content: Supports the statement that Kalshi is in talks for a new round of financing at about a $65 billion valuation, as well as the earlier $40 billion valuation financing
ABAB AI Insight
A $65 billion valuation is about 62.5% higher than the $40 billion valuation at the end of October. The previous round had already been viewed as the last round before an IPO, and this new financing indicates the company chose to continue pricing in the private market rather than enter the public market immediately.
Kalshi's valuation rose from $22 billion in May to $40 billion, and then discussions turned to $65 billion, reflecting investors' continued pricing of its trading volume and business expansion, including perpetual futures and other products.
The financing progress is occurring alongside lawsuits in multiple states over event contracts. The valuation discussions themselves do not change the judicial process in the federal and state jurisdiction dispute.
ABAB News · Cognitive Law
A prediction market platform can still choose to raise private financing again at a higher valuation after completing the