Latham & Watkins Advises on Kalshi’s US$1 Billion Series G

Kalshi, the first regulated exchange for trading on the outcomes of real-world events, announced it has completed a US$1 billion Series G at a US$40 billion post-money valuation. The funding round was co-led by Wellington and Sequoia, with investment from Morgan Stanley Investment Management, Baillie Gifford, Stripes, Andreessen Horowitz, Coatue, Layer Global, Sequoia Global Equities, CapitalG, Hudson River Trading, and Balyasny Asset Management.

Latham & Watkins LLP represented Morgan Stanley Investment Management in the transaction with a corporate deal team led by counsel Matthew Delja and partners John Miller and Haim Zaltzman, with associates Aubrey Trudeau, Mason Taylor, and Rohen Sukkawala. Advice was also provided on financial regulatory matters by partners Yvette Valdez and Arthur Long, with associates Adam Fovent and Mia Stefanou; on funds matters by Laura Ferrell and Mark Proctor, with associates Mario Richards and Haley Hohensee; and on tax matters by associate Arash Lotfi.