Kalshi in talks to raise money at $65 billion valuation, Bloomberg News reports

Detailed summary

Nov 12 : Kalshi is in talks to raise fresh funds at a $65 billion valuation, Bloomberg News reported on Thursday, days after finalizing a financing round that valued the prediction-market startup at $40 billion.

The previous fundraise was expected to be the last one before the company's anticipated initial public offering, but Kalshi decided to raise money again in the private markets, the report said, citing people familiar with the matter.

The company raised $1 billion in a new funding round late last month amid efforts to expand beyond event ‌contracts and compete more directly with traditional exchanges.

The round was co-led by Sequoia and Wellington. The October fundraise came just over five months after Kalshi raised $1 billion in a Coatue-led round that valued the company at $22 billion.

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Opening of the article, excerpted from CNA. To read the rest, open the article on the publisher's site.