Kalshi in talks to raise funding at a target valuation of $65 billion

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Kalshi is in talks to raise funding at a target valuation of $65 billion, 62.5% higher than its $40 billion valuation in its late-October funding round. Its monthly contract trading volume rose from $40 billion in August to nearly $100 billion in October, while annualized revenue recently exceeded $5 billion; October funding documents showed a gross margin of approximately 90%.