Kalshi announced a partnership with CNN last week, the first major agreement between the prediction market firm and a major news operation.
The deal allows the network to integrate Kalshi’s data across CNN programming, including television, digital, and social media. Real-time prediction markets data will also be available for the network’s chief data analyst Harry Enten. The two companies will also partner on a real-time news ticker that will run during segments that feature Kalshi data.
CEO and co-founder Tarek Mansour told Axios that adding Kalshi data would allow CNN to help viewers interpret how events and issues will develop in the future.
CNN Plans To Use Kalshi Data To Aid Journalists
Kalshi has faced growing criticism from lawmakers and state gaming regulators in recent months, but the CNN deal appears to mostly focus on prediction markets related to politics, news, culture, and weather.
Mansour noted that the network will not pay to use Kalshi data but will be prohibited from using data from other prediction market platforms.
“CNN is renowned for accurate, fact-based journalism and analysis that helps audiences understand what’s happening,” CNN Senior Vice President of Strategic Partnerships and Business Development Sam Felix said.
“By partnering with Kalshi to showcase prediction market data in our programming, CNN journalists will have a fresh, data-based angle from which to explore and better understand the world around us.”
Kalshi Signs On With CNBC Days After CNN Deal
Days after announcing the deal with CNN, Kalshi signed a multi-year partnership with CNBC, one that also reportedly includes its data running in real time on a ticker during broadcasts.
Other news operations have reached deals with prediction market firms as well. Yahoo Finance announced a new integration partnership with Polymarket in November. Sports Illustrated and Time have deals in place with the Galactic prediction market firm.
Axios reported that Kalshi recently went through the company’s third effort to raise capital. That led to the firm bringing in $1 billion on an $11 billion valuation. Mansour said the company is looking for other opportunities to partner with news organizations.
This comes after the company recently lost lawsuits in Nevada and Maryland concerning sports markets. Federal lawmakers also recently circulated a draft letter criticizing the industry and pointing to a lack of consumer protections regarding sports event contracts.
