Tarek Mansour on Kalshi's $1BN Raise, the Polymarket Feud, and the Battle to Replace Traditional Media

20VC

Dec 8, 2025

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Tarek Mansour is the Co-Founder and CEO @ Kalshi, the leader in the world of prediction markets. Just last week, they announced their $1BN raise at an $11BN valuation. In total, they have raised $1.59BN from some of the best, including Sequoia, a16z, General Catalyst, IVP, Meritech, and more. They also last week announced exclusive partnerships with CNN and CNBC, marking their move into mainstream media and news.

In Today's Episode We Discuss:
  • Why Did Kalshi Need to Raise $1BN

  • Why is Kalshi vs Polymarket Such a Fierce Rivalry?

  • The Future of Prediction Markets

  • Why Does Kalshi Partner with CNN When They Could Replace Them?

  • Why Did Tarek Fight For the Rights of his Early Investors So Much?

  • What Makes Alfred Lin The Best?

  • Does Having Sequoia as an Investor Change the Game?

  • Are Teenage Founders Today Emotionally Ready to Lead Companies

  • Quick-Fire Round: Celebrity Investors, Relationships with Parents

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