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Kalshi Secures $1 B Funding, Valuation Hits $11 B

What I read this week... 1) Kalshi Raises $1B at $11B Valuation Kalshi has closed a stunning $1 billion Series E funding round at an $11 billion valuation, more than doubling its worth in under two months. The round, led by crypto-focused venture firm Paradigm with participation from Sequoia Capital, Andreessen Horowitz, Y Combinator, and other prominent investors, marks one of the most dramatic valuation increases in recent fintech history. Kalshi’s explosive growth stems from its unique position as the first CFTC-regulated prediction market platform in the United States. Kalshi’s recent growth reflects this reality, with trading volumes now surpassing $1b every week, up over 1000% from 2024. They followed up this week’s raise with announcements of new partnerships with CNBC and integration into CNN’s global newsroom. 2) A New Financial Start for America’s Youth On December 2, 2025, “Trump Accounts,” were cemented as a federal initiative granting $1,000 to newborns born between 2025 and 2028 to foster generational wealth. This federal scope was dramatically expanded by a historic $6.25 billion pledge from Michael and Susan Dell. The Dells’ contribution aims to assist 25 million children aged 10 and under who missed the federal newborn eligibility window, specifically prioritizing those in zip codes with median incomes below $150,000. This inspiring move created a cascade of support and commitments from other business leaders and companies like Nvidia and Goldman Sachs. The event highlighted bipartisan support for Trump’s economic agenda of influencing long-term wealth distribution and early financial literacy. The accounts function as tax-advantaged investment vehicles tracking diversified U.S. stock index funds, allowing for tax-deferred growth on the initial grants and up to $5,000 in annual family or employer contributions. Upon turning 18, beneficiaries can convert the funds into an IRA or withdraw them for specific economic milestones, including higher education, home purchases, or business creation. Altimeter Capital CEO and Bestie Brad Gerstner was the start to this idea when he opened custodial investment accounts for his two sons at birth. One day his son asked why other children didn’t have the same access, which prompted Brad to launch a non-profit called Invest America in 2021. Michael Dell learned about this idea from Brad and shared it with the President, which ultimately led to the creation of “Trump Accounts” inside the Big Beautiful Bill. The accounts are set to launch on July 4, 2026, coinciding with the nation’s 250th birthday, and showcases a massive public-private infrastructure victory designed to democratize access to U.S. capital markets. 3) NASA Uncovers Life’s Building Blocks in Space NASA has made a landmark discovery in samples collected from asteroid Bennu by the OSIRIS-REx mission. Scientists found ribose, a five-carbon sugar essential for RNA formation, along with six-carbon glucose, marking the first time glucose has been identified in extraterrestrial samples. “On this primitive asteroid that formed in the early days of the solar system, we’re looking at events near the beginning of the beginning.” Scott SandFord, Astrophysicist, NASA’s Ames Research Center. The detection of ribose is particularly significant because it provides the final piece needed to construct RNA molecules, supporting the “RNA world” hypothesis that early life forms relied on RNA. Led by Yoshihiro Furukawa of Tohoku University in Japan, the research team’s analysis is notable not just for what was found, but also for what was absent: deoxyribose, the sugar used in DNA, was not detected in the samples. This absence suggests that ribose may have been more common than deoxyribose in early solar system environments, strengthening theories about how life’s molecular machinery evolved. The pristine nature of the Bennu samples allowed researchers to detect compounds that usually don’t survive atmospheric entry. Beyond biological molecules, the research revealed other remarkable findings: a gum-like polymer substance never before seen in astromaterials, and an unexpectedly high abundance of presolar dust from supernova explosions. The broader implications of these findings suggest that the molecular precursors to life may be common throughout the universe. The success of OSIRIS-REx also demonstrates the critical importance of sample return missions over meteorite studies, as pristine materials allow scientists to analyze fragile organic compounds that would otherwise be destroyed or contaminated during atmospheric entry.