Social Currency with Sammi Cohen Luana Lopes Lara (Kalshi) on the Money in Prediction Markets, Trading the Presidential Election and Suing the Regulators
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Dec 9, 2025 
Luana Lopes Lara, co-founder of Kalshi and the youngest self-made female billionaire, shares her journey of building a regulated prediction market platform that allows trading on real-world outcomes. She discusses the impact of the 2024 election on Kalshi's business and how their markets have surpassed traditional polling methods. Luana also reveals her battle with regulators, the significance of ethical trading, and highlights how everyday experts profit from niche knowledge. With insights on the future of prediction markets, she believes they could outpace stock exchanges.
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Market News Drives Growth Strategy
- Focus marketing on timely, culturally relevant markets to capture broad user attention.
- Build an operation that creates markets tied to current news and targets appropriate demographics daily.
Prediction Markets Could Surpass Stocks
- Prediction markets can outgrow stock markets because they price things that matter to more people.
- Kalshi views broad cultural and health questions as a much larger total addressable market than equities.
A Fan Turned Professional Trader
- An Ariana Grande superfan used music-chart markets to make over $60,000 and pay off student loans.
- Kalshi enabled that fan to monetize niche expertise and eventually buy a house.