Fox also said its news media properties reach nearly 200 million people each month, giving Kalshi a much broader distribution channel for its odds data.
The deal matters because it pushes prediction market data further beyond trading circles and into editorial products consumed by mainstream audiences. A recent Federal Reserve research paper described Kalshi markets as a high-frequency, continuously updated benchmark that is valuable to researchers and policymakers, giving the platform a credibility boost as it tries to position its odds as an information layer rather than just a speculative venue.
It also comes during a sharp expansion phase for Kalshi. Reuters reported in March that the company was seeking new funding at a reported $22 billion valuation, up from $11 billion in its prior round. In separate reporting this week, Reuters said Kalshi’s weekly trading volume now tops $1 billion, more than ten times 2024 levels, underscoring how quickly the platform has grown since prediction markets gained momentum after the 2024 US election.
At the same time, Kalshi remains at the center of a regulatory fight over whether event contracts should be treated as federally regulated swaps or as state regulated gambling products.
The CFTC sued Arizona, Connecticut, and Illinois to stop those states from policing prediction markets, arguing that the agency has exclusive authority over national swaps markets. A Nevada judge also extended a ban on Kalshi offering certain event contracts in the state without a gaming license, showing that the legal picture remains uneven.
Kalshi has tried to get ahead of some of those concerns by tightening its internal guardrails. The company began blocking politicians from trading on their own campaigns, as well as athletes, referees, and other sports personnel from trading on markets tied to their sports. The move is part of a broader effort to address insider trading and manipulation concerns as the category draws more scrutiny in Washington.
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