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The Latest Breaking News from Tarek Mansour

Kalshi's CEO is racing to build a futures market for AI's most precious resource, which could be worth $100 trillion by 2030

Compute is the new oil—but building its futures market may be just as messy.

Fortune

Kalshi’s 30-year-old CEO says most business advice is ‘trash’—he doesn’t read management books or listen to podcasts: ‘I’m gonna make it up as I go’

Kalshi cofounder Tarek Mansour slams founders for being over-reliant on ‘mostly trash’ business advice—he founded his now-$22 billion prediction market as a college grad.

Fortune

From Bolshoi Ballerina to Billionaire: The Rise of Kalshi's Brazilian Co-Founder Luana Lopes Lara

Kalshi co-founder Luana Lopes Lara went from ballet studios to a $40B betting exchange — now facing lawsuits from Nevada, Arizona, and New York.

Latin Times

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Kalshi CEO clashes with disgraced former Congressman George Santos in latest prediction market controversy

Santos was ordered to pay $35,000 after the CFTC found he had manipulated Kalshi contracts tied to his State of the Union attendance.

Fortune

Coinbase, Kalshi bring regulated perpetual crypto futures to US investors

Perpetual futures, or "perps", are derivatives that lack a traditional expiration date, allowing traders to maintain positions indefinitely without the need to roll over contracts. These ‌instruments also permit ⁠high ⁠degrees of leverage - often as much as 50-to-1 - enabling investors to amplify their exposure to market moves.

The Economic Times

Exclusive: Kalshi announces steps to keep kids off prediction market

The prediction market is implementing new tools to prevent minors from trading, but is resisting calls to block ages 18-20.

Axios

Early Kalshi employees raising up to $35 million for a prediction market VC fund with backing from the CEOs of both Kalshi and Polymarket

Other investors include Marc Andreessen through the fund Moneta Luna and Micky Malka of the fintech investment firm Ribbit Capital.

Fortune

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Why Prediction Market Kalshi Refused to Pay Out $54 Million Following Ayatollah Ali Khamenei's Death

Kalshi is under fire for not paying out $54 million to traders who bet on Ayatollah Khamenei's removal, raising questions about prediction market rules.

International Business Times UK

Kalshi caught up in firestorm of controversy over bets placed on death of Iran’s Ayatollah Ali Khamenei

The predictions market says promotion was ‘grammatically ambiguous’ and misunderstood by customers, reiterating that it ‘does not offer markets that settle on death’

The Independent UK

Surging prediction markets face legal backlash in US: ‘Lines have been blurred’

At least 20 federal suits filed against companies like Kalshi and Polymarket as lawmakers call it ‘loophole’ for gambling

The Guardian - US

Prediction market Kalshi reached $1bn in trading volume during Super Bowl

Kalshi says ‘incredible weekend’ after $145m in bets on Bad Bunny’s opening song and guests during half-time show

The Guardian - US

An anonymous Polymarket trader made $400,000 betting on Maduro’s downfall—and now Washington wants answers

One congressman wants to pass a bill that would ban government employees from insider trading on prediction markets. But is it enough?

Fortune

There are more self-made billionaires under 30 than ever before—11 of them have made the ultra-wealthy club in the last 3 months thanks to AI

While many Gen Zers are struggling to land entry-level jobs thanks to AI, the same technology is also fueling a new wave of young billionaires.

Fortune

Former ballerina overtakes Taylor Swift to become the youngest ever female self-made billionaire

Luana Lopes Lara, co-founder of the online ‘prediction market’ start-up Kalshi, is now worth an estimated $1.3bn after her latest investment round

The Independent UK

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Fortune

Meet Luana Lopes Lara: The 29-year-old ballerina spent college summers working for Ray Dalio—now she’s world's youngest female self-made billionaire

Following in the footsteps of Taylor Swift and Scale AI's Lucy Guo, Luana Lopes Lara has just been crowned the world's youngest female self-made billionaire. The millennial founder built an $11 billion startup in just six years.

International Business Times UK

10 Photos of Luana Lopes Lara: Kalshi Co-Founder Who Just Passed Taylor Swift as the Youngest Self-Made Female Billionaire

Luana Lopes Lara becomes the youngest self-made woman billionaire after building Kalshi into an $11bn fintech powerhouse at just 29 years old.

International Business Times UK

Polymarket Rival Kalshi Announced Hitting $11 Billion in Valuation as Prediction Markets Rise to Popularity

Prediction market Kalshi announced a $1 billion funding round on Tuesday valued at $11 billion, as real-life events future betting platforms surge in popularity.

Fortune

Investors are betting big on 'prediction markets' Kalshi and Polymarket—will the gamble pay off?

The two startups generated huge buzz by accurately predicting the 2024 election results. Their young founders still face long odds.

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One news app.

The Independent UK

‘Betting’ site Kalshi, which predicted both Trump and Mamdani’s wins, parlays $2 billion valuation

New York mayoral candidate Zohran Mamdani beat Andrew Cuomo for the Democratic nomination in a huge upset

Benzinga

Prediction Market Kalshi Raises $185M, Surges To $2B Valuation

Prediction market platform Kalshi has secured a $185 million Series C funding round, pushing the company's valuation to $2 billion.

Fortune

Prediction market Kalshi enters sports betting ahead of Super Bowl, after naming Donald Trump Jr. as an advisor

“Today, on the heels of our explosive growth, Kalshi takes its next big step: Sports.”

The Guardian - UK

TechScape: Betting markets come for everything – and the FBI comes for a betting market

This week in tech news, online predictors are riding high after a slew of accurate US election wagers. Plus, Trump and Musk try to weaponize the communications regulator•

The Guardian - US

Online prediction betting markets look ahead after US presidential election triumph: ‘We’re just getting started’

Wagering platforms like Kalshi and Polymarket want to expand rapidly, offering bets on awards, epidemics, the economy and more, after ‘astronomical’ election growth

Fortune

Exclusive: Prediction market Kalshi launches crypto deposits as Trump maintains big lead on betting sites

Kalshi still lags behind Polymarket, the offshore leader among electoral betting markets.

Fortune

Kalshi points to a Trump win. Its 28-year-old CEO says the betting market is more reliable than polling

Meet the man trying to turn electoral betting into a $1 trillion market.

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