# Kalshi Eyes $40B Valuation in Yet Another New Raise

*Author: David Christopher*
*Published: Aug 14, 2026*
*Source: https://www.bankless.com/fr/kalshi-eyes-40b-valuation-in-yet-another-new-raise*

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Kalshi is reportedly [in talks to raise](https://www.theinformation.com/briefings/exclusive-sequoia-wellington-talks-back-kalshi-40-billion-valuation) at least $750 million at a staggering $40 billion valuation as prediction markets continue their breakneck expansion into the financial mainstream.

### What’s the Scoop?
- **Another Monster Raise:** Sequoia Capital and Wellington Management are [in advanced talks](https://www.theinformation.com/briefings/exclusive-sequoia-wellington-talks-back-kalshi-40-billion-valuation) to lead the round, according to The Information, with the final raise [potentially exceeding $750 million](https://www.coindesk.com/business/2026/08/13/kalshi-in-talks-with-sequoia-wellington-for-usd750-million-fund-raise-at-usd40-billion-valuation). The $40 billion valuation would nearly double the [$22 billion valuation](https://news.kalshi.com/p/kalshi-raises-1-billion-22-billion-valuation-institutional-demand-surges) Kalshi secured just *three* months ago when it raised $1 billion in May.
- **Pulling Away From Polymarket:** The proposed valuation would also put Kalshi at roughly twice the valuation Polymarket is currently seeking. Polymarket [raised $1 billion](https://www.reuters.com/business/polymarket-seeks-over-20-billion-valuation-funding-round-bloomberg-news-reports-2026-08-04/) at a $15 billion valuation in April, including a [$600 million investment](https://ir.theice.com/press/news-details/2026/Intercontinental-Exchange-Announces-New-600-Million-Investment-in-Polymarket/default.aspx) from NYSE parent Intercontinental Exchange, and is already back in talks to raise another roughly $1 billion at a [valuation above $20 billion](https://www.reuters.com/business/polymarket-seeks-over-20-billion-valuation-funding-round-bloomberg-news-reports-2026-08-04/). Kalshi is also reportedly generating around [$4 billion in annualized revenue](https://sacra.com/c/kalshi/) compared with [$1.1 billion for Polymarket](https://www.reuters.com/legal/transactional/prediction-market-platform-polymarket-tops-1-billion-annualized-revenue-source-2026-06-26/).
- **IPO Next?:** The funding talks come as Kalshi is already considering going public, with CEO Tarek Mansour saying in June that an IPO could come in [**2027**](https://www.coindesk.com/business/2026/06/24/kalshi-targets-a-massive-usd40-billion-valuation-widening-lead-over-rival-polymarket). Wellington’s involvement is notable here given its [history of investing](https://www.theinformation.com/briefings/exclusive-sequoia-wellington-talks-back-kalshi-40-billion-valuation) in late-stage companies ahead of public listings. The potential raise would continue an extraordinary funding run for Kalshi, which was valued at just [$2 billion in June 2025](https://www.reuters.com/technology/kalshi-valued-2-billion-latest-funding-round-ceo-says-2025-06-25/), then $5 billion in October, $11 billion in December, and $22 billion this May.
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