According to CoinMeta, as reported by Reuters, the forecasting market platform Kalshi is in advanced negotiations with new and existing investors such as Tiger Global and Dragoneer regarding a new round of financing worth approximately $1 billion. The deal is expected to be completed in the coming weeks, with a valuation of around $40 billion, which represents a significant increase of about 82% from the $22 billion valuation at the time of its $1 billion financing in May. Existing shareholders Sequoia Capital and Wellington Management are discussing leading the investment together. Kalshi has surpassed Polymarket in market share over the past year and plans to expand its business from sports and elections forecasting to more asset categories. Recently, preliminary discussions have also been held regarding potential IPO for the coming years. Polymarket is also currently seeking a separate round of financing amounting to about $1 billion.