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Kalshi raises $1 billion at a $40 billion valuation

Co-led Kalshi's $1 billion Series G

Kalshi raised $1 billion at a $40 billion valuation, nearly double the $22 billion it fetched in May and eight times its value a year ago. Sequoia Capital and Wellington Management co-led the round. The company says the money will build a broader exchange around its prediction markets.

Updated 1 hour ago