how long can a round sit in "advanced talks"? for Kalshi, a whole quarter so far
June 24: the FT reports Kalshi is seeking about $40 billion, with a close as soon as the third quarter
now: Reuters calls the talks advanced, per people familiar with the matter
a $1 billion check at the same $40 billion price tag
Sequoia and Wellington in talks to lead, Tiger Global and Dragoneer circling
same price tag, more names. still no signature)
in between, on September 25, the Sixth Circuit said Kalshi's sports contracts aren't swaps and fall under state gaming regulations
I'd read that as a warning. the money reads it as noise: days after the ruling, the same $40 billion is still on the table
the valuation is a bet on where Kalshi goes next, and none of these reports says where that is
#Kalshi #EarningsSeason
June 24: the FT reports Kalshi is seeking about $40 billion, with a close as soon as the third quarter
now: Reuters calls the talks advanced, per people familiar with the matter
a $1 billion check at the same $40 billion price tag
Sequoia and Wellington in talks to lead, Tiger Global and Dragoneer circling
same price tag, more names. still no signature)
in between, on September 25, the Sixth Circuit said Kalshi's sports contracts aren't swaps and fall under state gaming regulations
I'd read that as a warning. the money reads it as noise: days after the ruling, the same $40 billion is still on the table
the valuation is a bet on where Kalshi goes next, and none of these reports says where that is
#Kalshi #EarningsSeason
