Kalshi Raises $1 Billion in Series G Funding at $40B Valuation
What happened
Kalshi, a federally regulated U.S. prediction market exchange, raised $1 billion in a Series G funding round, reaching a $40 billion post-money valuation. The round was co-led by Wellington Management and Sequoia Capital, and included participation from Hudson River Trading and Balyasny Asset Management.
From hedgeco.net
Why it matters
Kalshi reported that its annualized trading volume has surpassed $1 trillion across prediction markets, commodities, crypto, and perpetual futures. The company plans to use the capital to grow institutional adoption and launch new products, such as markets on the price of compute.
From hedgeco.net
Who's involved
- Hudson River TradingParticipated as an investor in Kalshi's funding round.
- Balyasny Asset ManagementParticipated as an investor in Kalshi's funding round.
- Sequoia CapitalCo-led Kalshi's Series G funding round.
- Baillie GiffordParticipated in Kalshi's funding round.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- CoreWeaveSpeculative
The launch of compute markets could increase demand for AI infrastructure services.
- Balyasny Asset ManagementSpeculative
Participation in the funding round could validate Balyasny Asset Management's interest in emerging asset classes.
- Hudson River TradingSpeculative
Direct participation in the funding round could validate Hudson River Trading's market strategy and asset class focus.
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The entities involved
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Hudson River Trading
Single dealer platform
Nothing else this week.
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Balyasny Asset Management
Chicago-based hedge fund
Nothing else this week.