Kalshi was finalizing funding at a $40 billion valuation ahead of IPO, Bloomberg reported
- Place in VP50
- #24
- Source
- 1
- Claims verified
- 2 of 4
What happened
Bloomberg reported on September 30, 2026 that Kalshi was finalizing a new funding round at a $40 billion valuation. The round had not been announced as closed at the time of the report. Bloomberg's sources described the financing as the company's last private round before an initial public offering that could come as soon as 2027. No banks and no IPO filing were reported.
Bloomberg also gave two earlier marks for comparison. Kalshi last raised money in March at a $22 billion valuation, and investors valued it at $11 billion last December. Against those figures, the reported $40 billion was about 1.8 times the March value and close to four times the December value. The material available for this post did not state the amount being raised, the investors, the share price or the share class, so the terms behind the reported valuation were not disclosed.
Key points
- Kalshi was finalizing new funding at a $40 billion valuation, Bloomberg reported on September 30, 2026.1
- Bloomberg's sources described it as the last private round before an IPO as soon as 2027.1
- Kalshi last raised in March at a $22 billion valuation, according to Bloomberg.1
- Investors valued Kalshi at $11 billion last December, according to Bloomberg.1
- The amount, investors and share terms were not stated; no banks or IPO filing were reported.1
Why it matters
A reported $40 billion mark sits against $22 billion in March and $11 billion last December. If the round closes at that value, it becomes the newest reference point for any stake in the company.
The reported IPO timing of as soon as 2027 points to a public-market route for existing holders. No banks and no filing were reported, so the listing was still at the planning stage.
The report gives a valuation but no round size, share price or share class. Without those, the $40 billion figure cannot be tied to a specific class of existing shares.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Series C | Jun 25, 2025 | $2.0B | $185M | Paradigm |
| Series D | Oct 10, 2025 | $5.0B | $300M | Andreessen Horowitz and Sequoia Capital |
| Series E | Dec 2, 2025 | $11B | $1.0B | Paradigm |
| Series F | May 7, 2026 | $22B | $1.0B | Coatue |
| Series F extension | May 20, 2026 | $22B | $200M | Unknown |
Updated
Fact-check
- Kalshi was finalizing new funding at a $40 billion valuation, as reported by Bloomberg on September 30, 2026.Stated by the title of [1] Bloomberg, 'Kalshi Finalizing New Funding at $40 Billion Value Ahead of IPO', dated 2026-09-30 in the event's source data.Verified
- Bloomberg's sources described the round as the last private round before an IPO as soon as 2027.The event's research evidence records that [1] Bloomberg's sources called the financing the last private round before an IPO anticipated as soon as next year (2027); the headline of [1] ties the round to an IPO.Verified
- Kalshi last raised money in March at a $22 billion valuation.Taken from the writer's extract of [1] Bloomberg; the article returned HTTP 403 during the check and the figure is not in the event data.Partly verified
- Investors valued Kalshi at $11 billion last December.Taken from the writer's extract of [1] Bloomberg; the article returned HTTP 403 during the check and the figure is not in the event data.Partly verified
Sources
- [1]Bloomberg (opens in a new tab)Kalshi Finalizing New Funding at $40 Billion Value Ahead of IPO
