20VC: Kalshi's $1BN Raise, the Polymarket Feud, and the Battle to Replace Traditional Media

Think this kind of what happened with Causia in the election was a bit of a chat GPT moment for our industry. An industry truly becomes an industry when there's a rivalry. Without Polymarket, we wouldn't have pushed our marketing and pushed our product as hard. Did you ever cross paths with SPF? And what did you learn from observing FTX's implosion? This is 20 VC with me, Harry Stebbings, and Kalshi is one of the fastest growing companies on the planet right now. In the last week, they announced their $1,000,000,000 raise at an $11,000,000,000 valuation. They announced partnerships with CNN and CNBC. And today, their founder, Tarek, joins me for his only interview following these announcements to give me the exclusive lowdown. But before we dive into the show today, are you drowning in AI tools, chat GPT for writing, Notion for docs, Gmail for email, Slack for comms, and you're constantly copy pasting between them all losing context and losing time? This is the AI productivity tax, and it's killing your output. At twenty VC, we're all about speed of execution, and Superhuman is the AI productivity suite that gives you superpowers everywhere you work. With the intelligence of Grammarly, mail, and coder built in, you can get things done faster and collaborate seamlessly. Finally, AI that works where you work, however you work. Superhuman gets you from day one with zero learning curve, and and it's personalized to sound like you at your best, not like everyone else using generic AI. Get AI that works where you work, unlock your superhuman potential. Learn more at superhuman.com/podcast. That's superhuman.com/podcast. And speaking of tools that give you an edge, that's exactly what AlphaSense does for decision making. As an investor, I'm always on the lookout for tools that really transform how I work, tools that don't just save time but fundamentally change how I uncover insights. That's exactly what AlphaSense does. With the acquisition of Tagus, AlphaSense is now the ultimate research platform built for professionals who need insights they can trust fast. I've used Tigus before for company deep dives right here on the podcast. It's been an incredible resource for expert insights. But now with AlphaSense leading the way, it combines those insights with premium content, top broker research, and cutting edge generative AI. The result, a platform that works like a supercharged junior analyst delivering trusted insights and analysis on demand. AlphaSense has completely reimagined fundamental research, helping you uncover opportunities from perspectives you didn't even know how they existed. It's faster, it's smarter, and it's built to give you the edge in every decision you make. To any VC listeners, don't miss your chance to try AlphaSense for free. Visit alphasense.com/20 to unlock your trial. That's alphasense.com/2zero. And if Alpha Sense helps you make smarter decisions, Daily Body Coach helps you build smarter habits. You know how so many founders and execs say they'll finally take care of their health once things slow down? …