Getting betting results business is more valuable than trading crypto 🤔
Exclusive Reuters news on September 29: Predictive market platform Kalshi is in talks for a new round of financing of around $1 billion, targeting a valuation of $40 billion. Back in May this year, they raised $1 billion at a valuation of $22 billion. In just five months, their valuation has nearly doubled. This round is said to be led by Sequoia and Wellington in discussions, with Tiger Global and Dragoneer also on the participant list. Kalshi also wants to expand from a prediction market into a full-category trading platform, directly taking on the CME. Note that the financing has not been closed yet, and there has been no official confirmation.
My take: What capital is really interested in is not sports betting or betting on elections, but the “crowd emotion price” output in real time by prediction markets. A prediction market at scale with ample liquidity is, in essence, a never-stopping public opinion poll machine—one that has reference value for institutions and macro trading. This is the real basis for the valuation to double. But the risk is also there: lawsuits over gambling laws in multiple states are still ongoing. Until compliance is fully cleared, there are uncertainties no matter how big the story gets. I’ll keep following this prediction market track—follow me so you won’t get lost.
Data as of: 2026-09-30 09:00 UTC
Source: Reuters; Jinse Finance
For information sharing only and does not constitute investment advice.
Exclusive Reuters news on September 29: Predictive market platform Kalshi is in talks for a new round of financing of around $1 billion, targeting a valuation of $40 billion. Back in May this year, they raised $1 billion at a valuation of $22 billion. In just five months, their valuation has nearly doubled. This round is said to be led by Sequoia and Wellington in discussions, with Tiger Global and Dragoneer also on the participant list. Kalshi also wants to expand from a prediction market into a full-category trading platform, directly taking on the CME. Note that the financing has not been closed yet, and there has been no official confirmation.
My take: What capital is really interested in is not sports betting or betting on elections, but the “crowd emotion price” output in real time by prediction markets. A prediction market at scale with ample liquidity is, in essence, a never-stopping public opinion poll machine—one that has reference value for institutions and macro trading. This is the real basis for the valuation to double. But the risk is also there: lawsuits over gambling laws in multiple states are still ongoing. Until compliance is fully cleared, there are uncertainties no matter how big the story gets. I’ll keep following this prediction market track—follow me so you won’t get lost.
Data as of: 2026-09-30 09:00 UTC
Source: Reuters; Jinse Finance
For information sharing only and does not constitute investment advice.
