Prediction markets platform Kalshi has achieved a significant milestone by establishing a partnership with CNN, positioning itself as the network’s official prediction markets partner. This collaboration is further underscored by Kalshi’s recent fundraising success, closing a $1 billion funding round that has elevated its valuation to an impressive $11 billion.
As part of the partnership, CNN will incorporate Kalshi’s real-time market data into its broadcasts. This will feature a live on-screen ticker displaying probabilities related to various political, economic, and cultural events. Such integration aims to enhance the network’s reporting by providing viewers with immediate insights into how markets are responding to unfolding news.
CNN staff will have exclusive access to Kalshi’s probability data, allowing them to price future outcomes based on actual trading activity. The initiative is under the guidance of CNN Chief Data Analyst Harry Enten, who emphasizes the value of data-driven insights in political and social coverage. Kalshi’s CEO, Tarek Mansour, articulated that the partnership aims to replace traditional debates and opinions with accurate market-based insights, noting that users increasingly prefer information represented through price actions instead of mere speculation.
The announcement of this partnership coincides with the completion of Kalshi’s Series E funding round, led by Paradigm, a prominent cryptocurrency-focused investment firm. The round also saw participation from other major investors including Sequoia Capital, Andreessen Horowitz, and ARK Invest, more than doubling Kalshi’s previous valuation of $5 billion from just two months earlier.
Kalshi’s growth trajectory is further evident in its trading statistics. The platform recorded a remarkable trading volume of $4.54 billion in November, surpassing the preceding month’s volume of $4.49 billion. Weekly trading volumes have now exceeded $1 billion, marking an astonishing growth rate of over 1,000% since 2024. Kalshi’s primary competitor, Polymarket, also reported strong numbers, with a monthly trading volume of $3.76 billion in November.
Industry experts, including Polymarket CEO Shayne Coplan, endorse prediction markets as reliable tools for forecasting real-world outcomes. Galaxy Digital, a crypto infrastructure and services provider, is reportedly in discussions to become a liquidity provider on both Polymarket and Kalshi, a move that would deepen market activity as interest in on-chain betting continues to rise among retail traders and institutional investors alike.
Nonetheless, Kalshi faces challenges, notably a nationwide class action lawsuit claiming that it operates similarly to an unlicensed sportsbook, alleging misrepresentation of pricing advantages compared to traditional betting markets. The company has yet to admit any wrongdoing regarding these allegations.
