Kalshi in talks to raise $1B at $40B valuation

Prediction-market platform Kalshi is in talks to raise $1 billion at a $40 billion valuation, nearly doubling the $22 billion figure from May, per Reuters. Tiger Global and Dragoneer are among the investors in talks to participate. The round, if completed, would mark a major step-up for the platform as it expands into crypto perpetuals and faces regulatory scrutiny over event contracts.