Kalshi plans to raise $750 million at a valuation of $40 billion, leading Polymarket in trading volume

Prediction market platform Kalshi is seeking at least $750 million in financing at a valuation of $40 billion, doubling its valuation from $22 billion six months ago. Kalshi was approved by the US Commodity Futures Trading Commission as a designated contract market in 2021. As of September 4th, the trading volume of Kalshi in the past 30 days reached 14.1 billion US dollars, while Polymarket was 3.1 billion US dollars. Kalshi's trading volume accounted for 82% of the total, and over 80% of the trading volume came from sports events. (Source: Bitcoin.com News)