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Kalshi secures tens of millions in loans from VCs, eyes $50M+ round amid election betting boom, source says
Investors are rushing to throw millions at a hot startup called Kalshi as loans or even as unusual we’ll-figure-it-out later cash. Kalshi is an exchange
Kalshi is an exchange that allows people to bet, as official commodity trading contracts, on the outcomes of cultural events, from election results to how long Taylor Swift’s latest album will top the charts. Betting on the outcome of the upcoming U.S. election has spiked demand so high that Kalshi surged to the top spot on Apple’s app store, after years of being unranked among the finance category and to the seventh position overall as of this writing. Although investors suppose that Kalshi’s growth spike will subside after the election, they believe the company grew so much over the last month that it won’t revert to its prior size, the person said.
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