JUST IN: KALSHI SEEKS $40B VALUATION, NEARLY DOUBLING IN 2 MONTHS Kalshi is seeking new capital at $40 BILLION, up from the $22 BILLION it raised from Sequoia, a16z and Morgan Stanley in May. The deal widens Kalshi's lead over crypto-native rival Polymarket, which is seeking $15 BILLION. CEO Tarek Mansour also says the company is now weighing an IPO, though not before 2027.