**[Kalshi Plans to Raise Approximately $1 Billion, Valuation May Reach $40 Billion]** BlockBeats News, September 30, according to a Reuters report, sources familiar with the matter revealed that prediction market platform Kalshi is in advanced talks for a new funding round of approximately $1 billion, with participation from both new and existing investors such as Tiger Global Management and Dragoneer Investment Group. Sequoia Capital and Wellington Management are reportedly in discussions to co-lead the round, which is expected to close in the coming weeks. The deal could potentially value Kalshi at around $40 billion. This funding round comes just months after Kalshi completed its previous $1 billion funding round in May of this year, at which time the company was valued at $22 billion. Kalshi and Tiger Global declined to comment, while Sequoia Capital, Wellington, and Dragoneer have yet to respond. Kalshi is seeking to expand from a prediction market platform focused on sports and election events into a one-stop trading platform covering a broader range of asset classes, positioning itself to compete with the CME Group and Intercontinental Exchange, the parent company of the New York Stock Exchange. Sources also stated that Kalshi has recently initiated preliminary discussions about a potential IPO in the coming years. Its competitor, Polymarket, is also separately negotiating a $1 billion funding round. [Original Link]