Kalshi, a prediction market platform, has announced a partnership with CNN, naming the network its official partner. Through this collaboration, CNN's newsroom will leverage Kalshi's real-time market data to enhance its insights across crucial areas such as politics, the economy, and significant cultural events.
Kalshi stated that the integration of forecasting market information is intended to serve as a valuable complement to CNN's existing reporting. The platform believes that this will enable journalists to more effectively present credible information to their audiences regarding the probabilities of future cultural and political events in real-time.
Enhancing News Insights with Predictive Data
CNN has indicated that its chief data analyst, Harry Enten, will oversee the implementation and integration of Kalshi data throughout its programming. A new ticker, powered by Kalshi, will be featured in various segments, displaying insights derived from the platform.
The primary objective of this partnership, according to Kalshi, is to provide audiences with accurate, real-time signals on emerging market trends. The platform has already established itself as a reliable source for journalists, political figures, and participants in both financial and mainstream markets. Notably, Kalshi accurately predicted the outcome of the NYC Mayoral race shortly after the polls closed.
Tarek Mansour, CEO of Kalshi, emphasized that prediction markets offer a distinct perspective on public sentiment. He explained that users are increasingly seeking information conveyed through price movements rather than mere speculation, indicating a shift on his platform from debate and opinion towards market-based accuracy.
Kalshi's Growing Market Volume and Funding
Data from Token Terminal indicates that Kalshi recorded $4.54 billion in trading activity in November, an increase from $4.49 billion in October. The platform's weekly volume surpassed $1 billion, marking a significant rise of over 1,000% since the beginning of 2024.
In comparison, Kalshi's closest competitor, Polymarket, reported $3.76 billion in trading volume for November, following $3 billion in October. Kalshi has also secured substantial funding, including $1 billion in Series E funding from Paradigm, alongside investments from Sequoia Capital, Andreessen Horowitz, and ARK Invest, which contributed to its valuation exceeding the $5 billion mark set in October.
Regulatory Challenges and Industry Landscape
Despite its growth, the prediction platform is currently involved in a nationwide class action lawsuit. The company faces accusations of operating as an unlicensed sportsbook and making misleading claims about its advantages over traditional betting markets, potentially violating Massachusetts state gambling laws.
This partnership emerges at a time when the regulation of prediction markets in the United States remains a complex and debated issue. Several event-contract platforms overseen by the Commodity Futures Trading Commission (CFTC) have encountered difficulties in determining whether markets tied to political, sports, or cultural outcomes constitute financial instruments or fall under unlicensed gambling activities.
In recent years, the CFTC has taken action to prohibit or restrict election-related contracts on various platforms, citing concerns that such markets could undermine public trust or be susceptible to manipulation. Kalshi itself has previously faced scrutiny regarding its political contracts, reflecting the broader uncertainty within an industry that is expanding rapidly, often outpacing the ability of regulators to establish clear guidelines.
The state is seeking financial damages, civil penalties, and a court injunction to prevent Kalshi from offering sports wagers without the necessary licensing. The lawsuit alleges that the company facilitated over $1 billion in sports bets through 3.4 million wagers between January and June 2025.
Sports-related contracts have accounted for 70-75% of Kalshi's trading volume during the same period, significantly higher than the levels observed at licensed operators like DraftKings and FanDuel. However, the company has maintained its position, indicating no signs of wrongdoing.
Concurrently, reports suggest that Mike Novogratz's Galaxy Digital is in discussions with Polymarket and Kalshi to act as a liquidity provider, as on-chain betting on real-world events gains traction among both retail traders and institutional investors on Wall Street.