Kalshi raised $1B led by Sequoia and Wellington Management at a $40B valuation, up from a $22B valuation after raising $1B in May, its last raise before an IPO (Lauren McCarthy/New York Times)

Lauren McCarthy / New York Times : Kalshi raised $1B led by Sequoia and Wellington Management at a $40B valuation, up from a $22B valuation after raising $1B in May, its last raise before an IPO, The prediction market raised $1 billion in a new funding round and landed a market value almost double that of rival Polymarket.