Woofun AI reports that prediction market platform Kalshi is pursuing a new funding round at a valuation of approximately $40 billion. This figure represents nearly double the company's previous fundraising target of $22 billion, with the transaction potentially concluding as early as the third quarter of this year. Should the deal proceed, Kalshi would significantly extend its valuation advantage over competitor Polymarket, which has been reported to be seeking funds at a $15 billion valuation. CEO Tarek Mansour previously indicated to CNBC that while an initial public offering is under consideration, it will not occur before 2027.