Kalshi Partners with CNN as Official Prediction Market, Achieving $11 Billion Valuation

Kalshi and CNN Partnership: Kalshi has partnered with CNN as its official prediction markets provider, offering real-time probabilities for cultural and political events, which will be integrated into CNN programming.

Funding and Valuation: The prediction markets startup has raised $1 billion in a Series E funding round, bringing its valuation to $11 billion, with notable investors including Paradigm, Sequoia, and Andreessen Horowitz.

Expansion of Offerings: Kalshi has launched tokenized predictions on the Solana network, enhancing its trading capabilities and access to significant liquidity through decentralized finance protocols.

Legal Challenges: Kalshi faced a legal setback when a federal judge ruled that its sports contracts are not regulated by the CFTC, potentially impacting its operations and classification under gaming regulations.