Kalshi said on Tuesday that it will become news channel CNN‘s official prediction markets partner, as the Polymarket rival hit a valuation of $11 billion after its latest funding round.
Kalshi Data-Powered News Amid New Funding
Accessible to CNN's newsroom, data, and production teams, it will provide real-time probabilities for upcoming cultural and political events, the prediction markets startup said. The data will be incorporated throughout CNN programming, including a Kalshi-powered real-time news ticker displayed during segments featuring the platform's insights.
Harry Enten, CNN’s Chief Data Analyst, will lead the integration of Kalshi’s data. The platform's prediction markets attract a diverse audience, from reporters and politicians to pundits, as well as participants from both Wall Street and Main Street.
Kalshi also confirmed a $1 billion Series E funding round, valuing the company at $11 billion. The round was led by Paradigm and included participation from Sequoia, Andreessen Horowitz, Meritech Capital, IVP, ARK Invest, Anthos Capital, CapitalG, and Y Combinator.
Kalshi Expands Amid Legal Setback
Kalshi has continued to expand its offerings, as the prediction platform launched tokenized predictions on the Solana network, allowing on-chain trading of its contracts and access to "billions of on-chain liquidity" via Solana DeFi protocols like DFlow and Jupiter.
Last month, Alphabet’s Google (NASDAQ:GOOG) (NASDAQ:GOOGL) integrated prediction market data from Polymarket and Kalshi into Google Finance, initially available to Google Labs users, offering insights into future events. These platforms dominate the prediction market, handling over $4 billion in monthly notional volume.
Meanwhile, the prediction platform also faced a recent legal setback with a federal judge overturning Kalshi's key court win, ruling that sporting event contracts aren't regulated by the CFTC. The Nevada court revoked a preliminary injunction that had blocked state regulators from classifying Kalshi's sports contracts as illegal gambling, stating such contracts fall outside federal jurisdiction and cautioning that Kalshi's interpretation of the law would disrupt longstanding gaming regulations.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
