Kalshi Founders Become Billionaires, as Connecticut Issues Cease-and-Desist Orders to Kalshi, Robinhood, Over licensing

Kalshi, the CFTC-regulated prediction market platform that lets users trade on real-world event outcomes like elections, sports, weather, and more, just closed a massive $1 billion funding round at an $11 billion valuation—its third raise in 2025 alone. This skyrockets the company’s value from $2 billion in June to $5 billion in October, and now

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