Kalshi has raised $1 billion in a new funding round that values the prediction-market startup at $40 billion, the ‹company said, as it pushes to expand beyond event Œcontracts and compete more directly with traditional exchanges. The fundraising comes as New York-based Kalshi seeks to expand beyond its prediction market roots in sports and elections to become ‹a multi-asset trading platform. The move pits the startup against ‹traditional exchange heavyweights such as CME Group, opens new tab and New York Stock � Exchange parent Intercontinental Exchange, opens new tab. The round was co-led by Sequoia and Wellington. ‹Tiger Global Management and Dragoneer Investment Group also took part, a source familiar with ‹the matter said.