Kalshi, a prediction market, raised $1 billion in a new funding round, according to a New York Times business report by Lauren McCarthy. The Times reported that the round left the company with a market value almost double that of its rival, Polymarket.
According to the Times, the company's investors say Kalshi is worth $40 billion. The article's headline also asks whether an initial public offering, or I.P.O., is next for the company. The summary available for this report does not say whether Kalshi has taken any step toward a public listing, and it gives no timetable for one.
The Times also reported that legal challenges to Kalshi's business persist. The summary does not identify the parties, the courts, or the claims involved, so this report cannot describe them.
The summary does not say who led the funding round or how the investors arrived at the $40 billion figure. It also does not say whether the round has closed or whether additional investors may join it. It does not provide Polymarket's own market value, so the comparison is available only as the Times described it, as almost double.
This report relies on the headline and summary of the Times article, which was published on October 29, 2026. The full text was not available for this report, so no further details are reported here.
Sources: The New York Times: Its Investors Say Kalshi Is Worth $40 Billion. Is an I.P.O. Next?.