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Kalshi secures tens of millions in loans from VCs, eyes $50M+ round amid election betting boom, source says

TechCrunch LogoTechCrunch13h ago

Kalshi secures tens of millions in loans from VCs, eyes $50M+ round amid election betting boom, source says - TechCrunch

Quick Summary:

Investors are rushing to throw millions at a hot startup called Kalshi as loans or even as unusual we’ll-figure-it-out later cash.

Kalshi rushed to boost its cash position in anticipation of additional betting on the U.S.election.

Kalshi’s need for cash reserves increased sharply to ensure it can provide instant funding for customers betting on the U.S.election.


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Kalshi secures tens of millions in loans from VCs, eyes $50M+ round amid election betting boom, source says - TechCrunch (Picture 1)

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Article Details

Author / Journalist: Marina Temkin

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 18:07:55 (13 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 605 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 23352925

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News Last Updated: 9 hours ago

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