Kalshi in talks with Sequoia, Wellington for $750 million fund raise at $40 billion valuation

Prediction market giant Kalshi is in advanced discussions with Sequoia Capital and Wellington Management for a new $750 million funding round at a $40 billion valuation, The Information reported, citing people familiar with the matter.

Sequoia, which is already an existing investor in Kalshi, and Wellington are considering leading the investment round, the sources said, adding that the funding amount could be greater than $750 million. The Silicon Valley-based Sequoia, which has $56 billion in assets under management, already has an executive on Kalshi’s board of directors.

For Wellington, a Boston-based financial giant with $1.3 trillion in client assets under management (AUM), this funding round would be its first investment in Kalshi. Wellington has made private investments in companies leading up to their initial public offerings (IPO). Kalshi is considering an IPO in 2027, its CEO Tarek Mansour said in June.