06/13/2026
There is no such thing as self made.
When prediction markets were little more than an idea on Wall Street, Kalshi Inc. co-founder Luana Lopes Lara found inspiration in an unlikely place: the womb of Kylie Jenner.
It was early 2018 and the internet was abuzz with speculation as to whether Jenner, the reality TV star-turned-cosmetics-founder, was with child.
Lopes Lara was interning at Five Rings, a New York trading firm, learning the art of making markets. She asked her peers what they thought of the hype - sensing an opportunity to create a novel wager - but none of the other interns had even heard of Jenner.
The firm’s co-founder talks about the celebrity buzz that sparked her interest in prediction markets, the legal battles her firm faces and Jay-Z’s advice.
Kalshi & Deel were both in my YC batch.
Both are worth $10B+ today. Kalshi $22Billion.
Nobody cared.
Kalshi was building prediction markets. Nobody was talking about prediction markets. The regulatory path seemed impossible.
I remember Tarek Mansour telling me at the time how the leading prediction market was an academic nonprofit project run by a university in New Zealand, called PredictIt.
I heard Alex Bouaziz pitching cross-border crypto payments to contractors on Demo Day. Crypto. For payroll.
Meanwhile, everyone in YC was gossiping about ZeroDown, a rent-to-own real estate tech company.
They raised at an ~$80M valuation, basically 8x what Kalshi and Deel raised. They had a team with an impressive track record in tech.
Sam Altman personally led their round. They were so “ahead” of everyone else they skipped fundraising on Y Combinator Demo Day. Never even got on stage.
Kalshi got regulatory approval against all odds. Deel pivoted and became a giant. Both are $10B+ companies.
ZeroDown isn’t around.
Kalshi co-founder Luana Lopes Lara becomes self-made billionaire.
The prediction market platform’s meteoric rise turned a former ballerina into the youngest self-made woman billionaire at 29.
Kalshi’s valuation to $22 billion, pushing Lara’s estimated net worth to $2.6 billion.
That’s why company building is the greatest game on earth.
By 80eightyVC & Edikan Moses