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

On November 12, Bloomberg News reported that prediction-market startup Kalshi is in discussions to raise additional capital at a $65 billion valuation, according to sources familiar with the matter. This comes just days after the company finalized a previous financing round that valued the firm at $40 billion, which was expected to be its final funding before an anticipated initial public offering.

The company's decision to seek more funds in private markets, as per the Bloomberg report, followed a $1 billion funding round that took place late last month. The new round was co-led by Sequoia and Wellington, with the aim of expanding Kalshi's horizons beyond event contracts and enabling a more direct competition with traditional exchanges.

The October funding round saw Kalshi raise $1 billion, led by Coatue, and valued the company at $22 billion. The financing had been finalized roughly five months prior, on October. The source disclosed that the company could not immediately provide a comment on the latest report.