Prediction market platform Kalshi has reached a $40 billion valuation following a reported $1 billion funding round announced Thursday. The new raise marks a dramatic acceleration in the company's worth, more than doubling its previous valuation of $22 billion recorded in May. The latest round underscores Kalshi's rapid growth trajectory over the past year. The platform's valuation surged from $5 billion in October 2025 to $11 billion by December, before climbing to $22 billion in May and now hitting $40 billion.