Kalshi Raises $1B at $11B Valuation as Prediction Market Race Heats Up

Kalshi has transitioned its event contracts to the Solana blockchain, marking a significant shift in the operation of prediction markets by integrating U.S.-regulated platforms into decentralized finance. This move aims to enhance liquidity and attract a broader user base within the cryptocurrency community.

Kalshi has successfully raised $1 billion in its latest Series E funding round, resulting in a valuation of $11 billion. This funding comes after the prediction market platform experienced its highest trading volumes to date last month, indicating strong market interest and engagement.

Bitcoin's price dipped below its 'fair value' for the first time in two years, prompting a network reset characterized by a flush of leverage and accumulation by long-term holders. Following this adjustment, the price has rebounded above fair value, suggesting a potential for significant gains in the coming months.

AAVE's native token surged by 14% following the integration with Bybit and Mantle, which connects the decentralized finance (DeFi) lender to a user base of 70 million. This upward movement has allowed the token to break through a significant resistance level, with a target of reaching $190 in the near future.

Amazon has entered the competitive landscape of artificial intelligence (AI) amid rising concerns over cryptocurrency and risk assets, signaling a significant shift in its business strategy. This pivot comes with potential risks, including heavy borrowing and sustainability issues, particularly if demand for AI technology declines.

Kalshi has launched on-chain event contracts integrated with the Solana blockchain, enhancing its platform for prediction markets. This move allows users to engage with decentralized event contracts, tapping into the growing cryptocurrency liquidity. The integration is seen as a significant step in expanding Kalshi's offerings in the prediction market sector.

Bitcoin's volatility has recently diverged from the VIX, indicating a widening spread between BTC and S&P 500 implied volatility indices. This shift suggests potential trading opportunities as market dynamics evolve. Analysts are closely monitoring these changes as Bitcoin's price has recently rebounded to around $91,000 after a significant sell-off.

A Brazilian court has sentenced 14 individuals for their involvement in a $95 million drug money laundering scheme that utilized cryptocurrency and shell companies to obscure the origins of illicit funds. The defendants were found guilty of leveraging fake businesses and digital transactions to facilitate their operations.