Luana Lopes Lara (Kalshi) on the Money in Prediction Markets, Trading the Presidential Election and Suing the Regulators

Luana Lopes Lara didn’t just build a unicorn— she overturned a 100-year old ban, sued the regulators and became the youngest self-made female billionaire in the process. Luana co-founded Kalshi, the CFTC-regulated prediction market that lets you trade on the outcome of real-world events. Kalshi is one of the fastest-growing tech companies in the country; in fact, since Sammi spoke with Luana, Kalshi’s valuation has gone from $5 billion to $11 billion. Luana shares the ripple effects of the 2024 election on the business, the decision framework around which events are “tradeable,” the psychology of Kalshi users, and why she thinks prediction markets might rival stock exchanges sooner than anyone expects.  Follow Sammi on Instagram  Subscribe to the Social Currency newsletter  Learn more about Kalshi Today Luana and Sammi discuss: 00:00 Luana Lopes Lara’s Social Currency 02:14 The Early Days of  Kalshi 02:41 The Role of Ballet in Business 04:20 Understanding Prediction Markets 07:09 The Brutal Regulation Process 14:31 Marketing and Growth Strategies 16:18 The Impact of the 2024 Election 27:23 Sports and Other Popular Trading Categories 29:37 Ethics of Prediction Markets 33:33 User Behavior  37:55 Hot Takes and Future Trends 39:24 Social Currency Corner 46:24 How to Show Social Currency Some Love Learn more about your ad choices. Visit megaphone.fm/adchoices