According to CNBC, Kalshi completed a $1 billion funding round that valued the prediction market exchange at $40 billion, the company announced on Thursday. The round was co-led by Sequoia Capital and Wellington Management, following a May funding round that valued Kalshi at $22 billion. Kalshi said it plans to use the funds to develop leveraged event contracts, perpetual futures tied to individual stocks and markets for trading the price of compute, while continuing to invest in its institutional business.