The prediction market platform is planning a possible public offering in 2027 and may finalize a new funding round in Q3, as reported by the Financial Times.
By Helene Braun|Edited by Aoyon Ashraf Jun 24, 2026, 7:48 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- Kalshi aims to secure new funding at a valuation of around $40 billion, nearly doubling its last valuation of $22 billion from a previous funding round, as reported by FT citing insiders.
- Should this deal materialize, likely by Q3, it would enhance Kalshi’s lead over Polymarket, which is pursuing investment at a $15 billion valuation.
- The discussions for funding come as Kalshi, a federally regulated exchange in the U.S. supported by key investors, considers a potential initial public offering, although its CEO indicated this wouldn’t happen before 2027.
Kalshi is looking to raise new capital with a valuation target of approximately $40 billion, a significant increase from its previous valuation of $22 billion, as per a Financial Times report quoting sources familiar with the situation.
The company might wrap up this fundraising effort as early as the third quarter of this year, according to FT.
If finalized, this deal would solidify Kalshi's valuation advantage over its competitor Polymarket, which is currently seeking funding at a $15 billion valuation. Both companies have emerged as leading players in the prediction market sector, despite an increasing number of competitors entering the field.
Kalshi's last funding round, which valued the firm at $22 billion, drew significant interest from notable investors, including Philippe Laffont's Coatue Management, Sequoia Capital, Andreessen Horowitz, and Morgan Stanley.
Competition in this space has intensified as companies strive to attract users and broaden their product offerings.
As a federally regulated exchange in the U.S., Kalshi has managed to draw in mainstream investors and institutional support, while Polymarket, which utilizes blockchain technology and cryptocurrency for settlements, has gained traction among crypto enthusiasts and has been popular during recent electoral events.
The ongoing funding discussions also coincide with Kalshi's management considering a public listing. Earlier on Wednesday, CEO Tarek Mansour mentioned that the company is contemplating an eventual IPO, but not before 2027.
"For a company with our financial standing and growth rate, this sort of discussion is necessary," explained Mansour during an interview on CNBC. "People are starting to ask about it, and we are indeed thinking about it, though we don’t have a definitive answer yet."
Kalshi has not yet responded to requests for comments.
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CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
By CoinDesk ResearchJun 15, 2026In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Why it matters:
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
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