Kalshi is seeking fresh capital at a $40B valuation, nearly triple the $15B target its biggest rival Polymarket is reportedly chasing. The gap signals a

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…