Kalshi, a prediction market platform that allows users to bet on future events such as elections, sports, and pop culture, has raised $1 billion in a new funding round, valuing the company at $11 billion. This marks its third funding round this year, more than doubling its valuation from $5 billion less than two months ago. The round was led by Paradigm and included investors like Sequoia Capital, Andreessen Horowitz, and Y Combinator. The rapid growth reflects the increasing popularity of prediction markets, with Kalshi's weekly trading volume reaching over $5.8 billion in November. Kalshi's success has made its founders, Tarek Mansour and Luana Lopes Lara, billionaires on paper, each owning about 12% of the company, with Lopes Lara becoming the world's youngest self-made woman billionaire at age 29. Lopes Lara, originally from Brazil, has an impressive background that includes graduating from MIT in computer science, working with top hedge funds, and performing as a professional ballerina in Austria. Her rigorous ballet training in Brazil, where teachers tested her endurance with lit cigarettes and glass shards, helped her develop persistence and resilience. Inspired by her math teacher mother and electrical engineer father, Lopes Lara excelled in academic competitions before pursuing ballet. She transitioned from ballet to tech, aiming to emulate innovators like Steve Jobs. Lopes Lara and Mansour met at MIT and co-founded Kalshi in 2019 after recognizing the potential of prediction markets. They faced regulatory hurdles, including a legal battle with the CFTC over election contracts, which they won in September 2024, making history as the first regulated election contracts in the U.S. in over a century. Kalshi has expanded its market offerings, partnered with brokerages and organizations like the NHL and StockX, and integrated with blockchain platforms. Despite regulatory challenges at the state level, investors remain optimistic about its growth potential. The company's trajectory exemplifies resilience and innovation, with Lopes Lara’s journey from a disciplined ballet dancer to a tech billionaire inspiring many.