Reuters reported that prediction market platform Kalshi is in advanced talks to raise about $1 billion from existing and new investors, including Tiger Global and Dragoneer. The round is expected to close in the coming weeks at a valuation of about $40 billion, up roughly 82% from the $22 billion valuation in its $1 billion May financing. Existing investor Sequoia Capital and Wellington Management are in talks to lead the round. Kalshi has also held early discussions about a potential IPO in the coming years. Polymarket is separately seeking about $1 billion in new funding.