Kalshi raises $1B at $40B valuation as non-sports revenue run rate tops $1B

Crypto Insight Summary: The funding round comes as Kalshi expands its partnerships with the NBA and S&P Dow Jones Indices while facing legal challenges over its sports contracts. Crypto Insight Analysis: Direction: Neutral Impact: No Impact Horizon: Short-term (1-3 days) Reasoning: Kalshi's funding and expansion concern prediction markets, with no direct impact on crypto assets.