Kalshi in Advanced Talks for $1B Raise at $40B Valuation

Kalshi's jump from its confirmed May round to a reported $40 billion valuation signals that prediction markets are being repriced as a serious venue for event-driven exposure, not a niche. The involvement of established venture names as potential leads matters more than the headline figure: it suggests institutional conviction in regulated event contracts as a durable asset class. The open question is whether that conviction holds if the round's terms firm up at a premium this steep, and whether regulated prediction venues keep pulling capital away from offshore counterparts.