Cooley-Led Kalshi Hits $40B Valuation With $1B Series G

Betting platform Kalshi said on Thursday that its valuation rose to $40 billion after it completed its latest fundraising round, which totaled $1 billion in investor commitments, according to Law360. The company was advised by Cooley LLP, the law firm that handled the transaction on the issuer side. The report, authored by Jade Martinez-Pogue and dated October 29, 2026, is brief and the primary source is paywalled, so the lead investors, pricing terms, and the specific use of proceeds were not available in the reporting reviewed. Readers should treat the $40 billion figure as the company-reported post-round valuation, as the article presents it, and not as an independently verified mark.

For institutional allocators, the round is a data point on private valuations in the event-contract and prediction-market sector, an area that has drawn growing attention from investors and regulators. The size of the Series G and the valuation step-up signal sustained investor appetite for regulated prediction-market platforms. Further detail on investor composition and terms would be needed to assess the round's implications for secondary pricing or competitive positioning.