Kalshi has raised $1 billion in a Series G round at a $40 billion post-money valuation, the company announced on 29 October 2026. The round was co-led by Wellington and Sequoia. In June 2025 the prediction market was valued at $2 billion, so its price tag has grown twentyfold in about 16 months (see chart).
Who invested
Besides the two leads, Kalshi names Baillie Gifford, Stripes, Andreessen Horowitz, Coatue, Layer Global, Morgan Stanley Investment Management, Sequoia Global Equities, CapitalG, Hudson River Trading and Balyasny Asset Management. The money is meant for prediction-market growth, institutional sales, new products such as indices, single-stock perpetual futures and compute markets, and expansion with a focus on Latin America and Europe.
What Kalshi says about its business
All of the following figures come from Kalshi itself and are not audited. The company says annualized trading volume across the business now exceeds $1 trillion, non-sports annualized revenue tops $1 billion, more than 30 million accounts have been created, and it handles over 75% of prediction-market volume. Commodities generate more than $100 million in annualized trading fees after three months, crypto volume is $140 billion annualized and politics over $8 billion. Its perpetual futures, launched a few months ago, have done $83 billion in volume with over 500,000 traders. In September about 500 entities were active on the exchange. For an independent view of market share, see our volume count across 41 venues.
Money in, lawsuits in
The raise lands in the middle of a legal fight on many fronts. Six days after the announcement, Arkansas sued Kalshi; Utah has filed criminal charges against the company and its founders, and the CFTC itself has sued Utah over pre-emption. Investors are betting that federal oversight as a CFTC-registered exchange will hold against state gambling law. Kalshi does not address the litigation in its announcement.
Key facts
Round: Series G, $1 billion, announced 29 October 2026.
Valuation: $40 billion post-money.
Leads: Wellington and Sequoia, plus 10 co-investors.
Earlier rounds: $2bn (Jun 2025), $5bn (Oct 2025), $11bn (Dec 2025), $22bn (May 2026).
Source: Kalshi announcements; business figures are company claims.
Why it matters for GambleFi
Kalshi is now valued far above any onchain casino or iGaming token (GambleFi token) project, and it is moving into crypto and perpetual futures, products that crypto betting platforms such as SX Bet and Rollbit also offer. For how prediction markets differ from crypto casinos, see the GambleFi FAQ. This is a news report, not investment advice.