Polymarket Rival Kalshi Becomes CNN's Official Prediction Market Partner As Valuation Touches $11 Billion - Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL)

Core Insights - Kalshi has partnered with CNN to become its official prediction markets partner, achieving a valuation of $11 billion following a recent funding round [1][4] Funding and Valuation - Kalshi confirmed a $1 billion Series E funding round, with participation from notable investors such as Paradigm, Sequoia, and Andreessen Horowitz, contributing to its valuation of $11 billion [4] Data Integration with CNN - The partnership will allow CNN's newsroom to access Kalshi's real-time probabilities for cultural and political events, integrating this data into CNN programming, including a real-time news ticker [2][3] Audience and Market Reach - Kalshi's prediction markets attract a diverse audience, including reporters, politicians, and participants from both Wall Street and Main Street [3] Market Activity - The prediction market platforms, including Kalshi and Polymarket, handle over $4 billion in monthly notional volume, indicating significant market activity [5] Legal Challenges - Kalshi faced a legal setback when a federal judge ruled that its sporting event contracts are not regulated by the CFTC, which could impact its operations and regulatory standing [6]