Mentioned:
HOOD -6.63% BULL -8.20%
One of America’s most popular prediction markets is making a bet on artificial intelligence. And they’re partnering up with Elon Musk to do it.
What’s happening:
- Prediction market Kalshi has struck a new deal with Elon Musk’s xAI to leverage their popular large language model Grok to provide real time insight into wagers on Kalshi’s platform
Why it matters:
- Kalshi has been rapidly growing lately, which has been largely fuelled by large partnerships with traditional brokerage platforms including Robinhood (NASDAQ: HOOD) and Webull (NASDAQ: BULL)
Going deeper:
- xAI has publicly stated they are committing an entire engineering team to building out technology to seamlessly integrate with Kalshi’s prediction market platform that will be capable of providing insight analysis of trends, data and sentiment around different wagers
- This is not the first time Elon Musk has forayed into partnerships with prediction markets, previously cutting a deal to integrate Polymarket directly into X
The intrigue:
- Kalshi also just recently made waves in Silicon Valley when they raised a new round of venture capital funding at a $2B USD valuation
