Prediction market platform Kalshi is reportedly seeking new funding at a $40 billion valuation, nearly doubling its valuation of $22 billion in May.

Tarek Mansour said to CNBC's "Squawk Box" it made sense for the company at the stage to think about a debut on public markets.

Finance isn’t exactly known for minting new business models overnight. The industry is heavily regulated, customers are slow to move money and licensing often keeps firms in…