Exclusive-Tiger Global, Dragoneer in talks to invest in Kalshi's new $1 billion fundraise, sources say

Kalshi, a prediction markets exchange, is in advanced discussions to raise approximately $1 billion in fresh funding from investors such as Tiger Global Management and Dragoneer Investment Group, according to sources familiar with the matter. The latest funding round, expected to be completed in the coming weeks, would value Kalshi at around $40 billion, following a $1 billion fundraise in May that valued the firm at $22 billion.

Sequoia Capital, an existing investor, is leading the latest fundraising round with Wellington Management. Kalshi, founded in 2018 by MIT alumni Tarek Mansour and Luana Lopes Lara, is looking to expand its platform beyond prediction markets to become a one-stop trading platform for various asset classes. The company, regulated by the CFTC, has recently been competing with Polymarket, another prediction markets exchange, for market share, according to data from Dune Analytics.