Kalshi in talks to raise funds at $40B valuation, nearly doubling in two months

Kalshi has filed a federal lawsuit challenging a new Illinois law that would require prediction market platforms offering sports event contracts to obtain state licenses before operating. According to a filing submitted Tuesday in the U.S. District Court for the…

Kalshi has entered talks to raise fresh capital at a valuation of about $40 billion, an 82% jump from the $22 billion valuation it secured less than two months ago. According to a Financial Times report citing people familiar with…

Illinois is set to institute a new tax on prediction markets next week that would take 15% of gross receipts from sports-related wagers.

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The prediction markets company claimed that it would be “irreparably harmed” when an Illinois law signed as part of a budget package goes in effect on July 1.

Kalshi's rapid valuation surge highlights the growing tension between innovative financial platforms and traditional regulatory frameworks. The post Kalshi seeks $40B valuation just one month after $22B funding round appeared first on Crypto Briefing.