Exclusive-Tiger Global, Dragoneer in talks to invest in Kalshi's new $1 billion fundraise, sources say

FILE PHOTO: Kalshi logo appears in this illustration taken April 22, 2026. REUTERS/Dado Ruvic/Illustration/File Photo

FILE PHOTO: Kalshi logo is seen in this illustration taken, August 3, 2026. REUTERS/Dado Ruvic/Illustration/File Photo

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NEW YORK, Sept 29 : Kalshi is in advanced discussions to raise about $1 billion in fresh funding from existing and new investors, including Tiger Global Management and Dragoneer Investment Group, according to people familiar with the matter, as the prediction markets exchange looks to cement its lead over arch-rival Polymarket.

The fresh capital raise is expected to be finalized in the coming weeks and will value Kalshi at about $40 billion, the sources said, requesting anonymity as the discussions are confidential. It comes on the heels of a $1 billion fundraise in May that valued the firm at $22 billion.

Sequoia Capital, which is an existing investor, is in talks to lead the latest funding round with Wellington Management, the sources said. The Information reported Sequoia and Wellington's discussions in August. Alfred Lin, one of the co-leaders at Sequoia, currently sits on Kalshi's five-member board of directors. The details of Tiger Global and Dragoneer's involvement, as well as the size of the latest fundraise, have not been previously reported.

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