Overview
- Kalshi completed a $1 billion funding round that values the company at $40 billion on Thursday, Oct. 29, 2026, the firm said.
- The round was co‑led by Sequoia Capital and Wellington Management, with participation from Tiger Global and Dragoneer, according to reporting.
- Kalshi said it will use the proceeds to build a broader exchange, including leveraged event contracts, perpetual futures tied to individual stocks, markets that trade the price of compute, and to expand its institutional business.
- The company won CFTC approval in 2026 to offer perpetual futures — derivative contracts with no expiry that can be held indefinitely and that often allow high leverage — a move that raises both trading opportunity and risk for users.
- Legal uncertainty now clouds the expansion: Utah’s attorney general filed criminal charges this week accusing Kalshi of promoting illegal online gambling, and conflicting U.S. appeals‑court rulings over state versus federal authority on sports‑related contracts make Supreme Court review likely.