Kalshi, the CFTC-regulated prediction market platform, is reportedly negotiating a new funding round that would value the company at roughly $40 billion. That’s nearly double the $22 billion valuation it secured during a $1 billion raise in May 2026, which was itself barely two months ago.
To put the speed of this ascent in perspective: Kalshi was valued at around $5 billion in early 2025. By December 2025, it hit $11 billion. By May 2026, $22 billion. And now, $40 billion. That’s an eightfold increase in roughly 18 months.
The numbers behind the hype
Monthly trading volume on the platform recently surpassed $17 billion. For context, the same figure was under $5 billion a year prior. That’s more than a threefold increase in twelve months.
During the May funding round, the company touted annualized volume of $178 billion.
