{"id":78841,"date":"2026-09-29T21:52:21","date_gmt":"2026-09-29T21:52:21","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sequoia-tiger-global-circle-kalshi-in-fresh-1b-funding-talks-report\/"},"modified":"2026-09-29T21:52:21","modified_gmt":"2026-09-29T21:52:21","slug":"sequoia-tiger-global-circle-kalshi-in-fresh-1b-funding-talks-report","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sequoia-tiger-global-circle-kalshi-in-fresh-1b-funding-talks-report\/","title":{"rendered":"Sequoia, Tiger Global Circle Kalshi in Fresh $1B Funding Talks: Report"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Reuters reports that Kalshi is purportedly negotiating a $1 billion raise at a $40 billion valuation, up eightfold since October.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Reportedly, Sequoia and Wellington are discussing leading Kalshi\u2019s latest round as institutional trading expands.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Kalshi\u2019s financing remains unclosed as its legal fight with state gambling regulators continues.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>From $5 Billion to $40 Billion in Less Than a Year<\/h2>\n<p>A company that investors valued at $5 billion last October, the <a href=\"https:\/\/www.bitcoin.com\/get-started\/defi-and-web3\/prediction-markets\/what-are-prediction-markets\/\" target=\"_blank\" rel=\"noopener noreferrer\">prediction marketplace<\/a> Kalshi, is now discussing a deal that would put its worth at $40 billion. That\u2019s the rather extraordinary trajectory of Kalshi, the exchange where people trade contracts tied to everything from sporting events and elections to economic indicators.<\/p>\n<p>The latest negotiations, <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/tiger-global-dragoneer-talks-invest-in-kalshis-new-1-billion-fundraise-sources-2026-09-29\/\" target=\"_blank\" rel=\"noopener noreferrer\">disclosed by Reuters reporter Anirban Sen<\/a> on Sept. 29, involve raising approximately $1 billion, with a closing anticipated in the coming weeks. Here\u2019s the interesting part: Kalshi secured another billion-dollar investment just five months ago, and its valuation has nearly doubled since then. Yet its biggest regulatory headache hasn\u2019t gone away.<\/p>\n<h2>Investors Line Up for Another Billion-Dollar Round<\/h2>\n<p>Reuters reported that existing investor Sequoia Capital is discussing leading the financing alongside Wellington Management. The publication\u2019s sources say Tiger Global Management and Dragoneer Investment Group are also negotiating participation. Sequoia partner Alfred Lin already occupies one of Kalshi\u2019s five board seats. Kalshi and Tiger Global declined to comment, while the other prospective investors did not respond to requests from Reuters.<\/p>\n<p>The company\u2019s valuation history tells quite a story. In October 2025, <a href=\"https:\/\/news.bitcoin.com\/kalshi-raises-300-million-reaching-a-5-billion-valuation-as-prediction-markets-go-mainstream\/\">Kalshi raised $300 million<\/a> at a $5 billion valuation before securing another $1 billion in December at an $11 billion valuation. By May 2026, the company had collected another $1 billion, doubling its valuation to $22 billion. Now, just four months later, the report says Kalshi is negotiating yet another billion-dollar financing round that would put its valuation at approximately $40 billion.<\/p>\n<p>The proposed valuation represents a 700% increase from October\u2019s figure, and the latest negotiations arrive before Kalshi has even completed a full year since its $5 billion benchmark. The transaction remains unconfirmed, however, and neither the final investor lineup nor the closing date has been announced.<\/p>\n<h2>A Prediction Market With Traditional Exchange Ambitions<\/h2>\n<p>Founded in 2018 by Tarek Mansour and Luana Lopes Lara, Kalshi operates a federally regulated marketplace where traders buy contracts that pay based on whether particular events happen. Its growth has been substantial. <a href=\"https:\/\/news.kalshi.com\/p\/kalshi-raises-1-billion-22-billion-valuation-institutional-demand-surges\" target=\"_blank\" rel=\"noopener noreferrer\">Company figures released in May<\/a> showed annualized trading volume climbing from $52 billion to $178 billion over six months, while institutional volume increased 800%.<\/p>\n<p>Kalshi is now courting hedge funds, insurers, and asset managers, developing institutional trading products while positioning itself against established exchange operators such as CME Group and Intercontinental Exchange (ICE). Alongside this, <a href=\"https:\/\/news.bitcoin.com\/polymarket-confirms-2-billion-investment-from-nyse-owner-ice\/\">ICE has its own relationship<\/a> with Polymarket. Kalshi rival Polymarket is reportedly negotiating its own billion-dollar financing, with earlier reporting pointing to a valuation exceeding $20 billion.<\/p>\n<h2>A $40 Billion Price Tag Meets a State Gambling Fight<\/h2>\n<p>There\u2019s a complication behind those impressive valuations. On Sept. 25, the 6th U.S. Circuit Court of Appeals <a href=\"https:\/\/news.bitcoin.com\/igaming\/sixth-circuit-turns-kalshis-own-words-against-two-state-loss\/\">ruled against Kalshi<\/a> in litigation involving Ohio and Tennessee, <a href=\"https:\/\/news.bitcoin.com\/regulation-and-legal\/tennessees-kalshi-fight-highlights-major-potential-turning-point-for-prediction-markets\/\">allowing those states<\/a> to regulate their respective sports contracts under gambling laws.<\/p>\n<p>Kalshi maintains that its federal Commodity Futures Trading Commission (CFTC) oversight governs the products and has challenged the ruling\u2019s legal durability. Trump\u2019s CFTC agrees with this stance and has met state regulators in court. The dispute creates an intriguing contradiction. Investors are discussing an eightfold valuation increase for a company whose sports contracts, a major source of trading activity, remain contested by state regulators in several jurisdictions.<\/p>\n<p>Kalshi has also held <a href=\"https:\/\/news.bitcoin.com\/prediction-marketplace-kalshi-said-to-be-exploring-ipo-path-in-informal-talks-with-banks\/\">preliminary discussions about going public<\/a>, although Mansour previously indicated that an initial public offering (IPO) wasn\u2019t planned for 2026. For now, the $40 billion figure is still a negotiating target. The company is seeking another billion dollars while the state courts continue debating precisely what kind of business it is.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/finance\/sequoia-tiger-global-circle-kalshi-fresh-1b-funding-talks-report\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Reuters reports that Kalshi is purportedly negotiating a $1 billion raise at a $40 billion valuation, up eightfold since October. Reportedly, Sequoia and Wellington are discussing leading Kalshi\u2019s latest round as institutional trading expands. Kalshi\u2019s financing remains unclosed as its legal fight with state gambling regulators [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":78842,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/78841"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=78841"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/78841\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/78842"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=78841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=78841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=78841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}