Business

Kalshi in talks to raise money at $65 billion valuation, Bloomberg News reports

Read a summary of this article on FAST.

Get bite-sized news via a new
cards interface. Give it a try.

Click here to return to FAST
Tap here to return to FAST

Nov 12 : Kalshi is in talks to raise fresh funds at a $65 billion valuation, Bloomberg News reported on Thursday, days after finalizing a financing round that valued the prediction-market startup at $40 billion.

The previous fundraise was expected to be the last one before the company’s anticipated initial public offering, but Kalshi decided to raise money again in the private markets, the report said, citing people familiar with the matter.

Kalshi could not immediately be reached for comment on the report.

The company raised $1 billion in a new funding round late last month amid efforts to expand beyond event ‌contracts and compete more directly with traditional exchanges.

The round was co-led by Sequoia and Wellington. The October fundraise came just over five months after Kalshi raised $1 billion in a Coatue-led round that valued the company at $22 billion.

Source: Reuters

Sign up for our newsletters

Get our pick of top stories and thought-provoking articles in your inbox

Get the CNA app

Stay updated with notifications for breaking news and our best stories

Get WhatsApp alerts

Join our channel for the top reads for the day on your preferred chat app

Get bite-sized news via a new
cards interface. Give it a try.

Click here to return to FAST
Tap here to return to FAST