Kalshi Secures $1 Billion Funding, Reaching $11 Billion Valuation Amid CNN Partnership

NEW YORK – Kalshi, the U.S.-regulated prediction market, has successfully closed a $1 billion funding round, catapulting its valuation to an impressive $11 billion. This significant capital injection coincides with the announcement of a strategic partnership with news giant CNN, aimed at launching election prediction markets and broadening public engagement. The news, highlighted by CoinDesk's "CoinDesk Daily" host Jenn Sanasie, underscores major developments across the cryptocurrency and financial markets.

The substantial funding is expected to fuel Kalshi's ambitious expansion plans, enhance its platform capabilities, and bolster its regulatory compliance efforts. Operating under the oversight of the Commodity Futures Trading Commission (CFTC), Kalshi allows users to trade on the outcome of real-world events, positioning itself at the forefront of the burgeoning prediction market industry. The collaboration with CNN is anticipated to significantly boost Kalshi's visibility and user base, particularly during high-profile election cycles.

In other market news, Bitcoin (BTC) recently experienced a notable dip, briefly trading below its "fair value" for the first time in two years. Data from analytics firm Glassnode indicated this potential undervaluation, which compares Bitcoin's market price to its realized price, amid a broader market correction. This event has prompted discussions among analysts regarding whether it signifies a healthy consolidation phase or a shift in investor sentiment.

Meanwhile, BlackRock’s iShares Bitcoin Trust (IBIT) continues its remarkable ascent in the exchange-traded fund (ETF) landscape. The spot Bitcoin ETF has rapidly become one of the most-traded ETFs, accumulating billions in assets under management at an unprecedented pace. IBIT's swift success highlights robust investor demand for cryptocurrency exposure through traditional financial vehicles, signaling increasing mainstream acceptance of Bitcoin as an investable asset.