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Kalshi Raises $1B at $22B Valuation: Report

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Kalshi Raises $1B at $22B Valuation: Report

The deal doubles the valuation from Kalshi’s previous round in November.

CFTC-regulated prediction market platform Kalshi is raising around $1 billion at a $22 billion valuation in a new funding round, according to multiple reports. The new round is led by Coatue Management, per The Wall Street Journal, which was first to report the news on Thursday. March 19.

The deal doubles the valuation from Kalshi’s previous round in November, which also raised $1 billion, but at an $11 billion valuation, as The Defiant reported.

A person familiar with the matter told Bloomberg yesterday that Kalshi’s annualized revenue stands at $1.5 billion.

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The latest raise marks an 11x valuation from less than a year ago. Last June, Kalshi raised $185 million at a $2 billion valuation, led by Paradigm, followed by a $300 million raise in October at $5 billion.

Regulatory Questions

The raise comes despite regulatory hurdles in the U.S., as Kalshi remains embroiled in several lawsuits with U.S. state gambling regulators. The ongoing battle between prediction market platforms like Kalshi and state regulators centers on the question of whether state or federal regulators are responsible for the oversight of these platforms.

Kalshi is licensed by the Commodity Futures Trading Commission’s (CFTC), and thus argues it should be subject to federal oversight, without requiring licensing on a state by state basis.

The Trump administration’s CFTC has vocally backed the company’s position that its contracts fall under federal jurisdiction. Last week, the agency launched a sweeping review of prediction markets and issued an advance rulemaking notice and a staff advisory.

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Just yesterday, the same day the fundraising news came out, a U.S. federal appeals court denied Kalshi’s emergency motion to block a potential temporary restraining order from the state of Nevada. The court decision clears the way for Nevada state regulators to seek a temporary ban on Kalshi’s operations there.

Earlier this week, Arizona hit the company with 20 criminal counts accusing it of operating an illegal gambling business and offering election wagering. At least nine other states have taken some form of legal action against Kalshi, with outcomes so far split across jurisdictions, ESPN reported.

Prediction Market Sector

Kalshi sees an average of more than $30.5 million in trading volume daily, per data from KalshiData. Meanwhile, on-chain prediction market Polymarket continues to lead the sector by volumes, consistently seeing over $150 million in daily trading volume in the past month, per data from TokenTerminal.

Last year, monthly prediction market volumes grew 130-fold from early 2024, making the sector one of the fastest-growing in finance, as The Defiant reported previously.

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Polymarket received CFTC approval to operate in the U.S. in November 2025, backed by a $2 billion strategic investment from Intercontinental Exchange. Polymarket has also reportedly been exploring a raise at roughly a $20 billion valuation, meaning Kalshi’s new mark would put it modestly ahead of its rival on paper.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

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Two Platforms, Two Directions for Online Gambling

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Zunabet VIP Levels

The online gambling conversation used to revolve around a small group of major operators. DraftKings, along with a few other household names, dominated headlines, advertising, and player sign-ups. That has not changed entirely, but something else is happening alongside it. A growing number of players are actively searching for crypto-native alternatives, and platforms like ZunaBet are showing up in those searches with increasing frequency.

This does not mean ZunaBet is about to replace DraftKings. They serve different audiences in different ways. But understanding how they compare reveals a lot about where different segments of the gambling market are heading. Here is what each platform brings and where the differences matter most.


DraftKings: The Household Name

DraftKings grew from a daily fantasy sports startup into one of the biggest legal gambling operators in the United States. It is publicly traded, licensed across multiple US states, and backed by partnerships with major sports leagues and media companies. Its brand recognition is enormous, built on years of advertising during live sports broadcasts and integration into mainstream sports culture.

The sportsbook is the centrepiece. DraftKings covers NFL, NBA, MLB, NHL, soccer, tennis, golf, MMA, and just about every other sport with a significant American following. Live betting, same-game parlays, and regular promotional odds boosts keep the experience engaging for bettors who follow the major leagues closely.

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Casino games are available in states that permit online casino gambling. The selection includes slots, table games, and live dealer options from recognized providers. The library is solid within each approved market, but availability and game count vary from state to state based on what local regulators allow.

Zunabet VIP Levels
Zunabet VIP Levels

All transactions at DraftKings run through traditional payment channels. Bank transfers, debit cards, and approved processors handle deposits and withdrawals. Full identity verification is required before any wagering can take place. These are standard conditions for any operator working within the US legal framework.

The loyalty program operates under the Dynasty Rewards banner. Players collect Crowns through wagering, which convert into DK Dollars at fixed rates. Multiple tiers exist, and the system provides some return on play. However, the actual percentage returned to players is modest, and the structure is designed more to encourage continued betting volume than to deliver substantial cashback.

DraftKings excels at what it was built for: serving American sports bettors within a regulated, fiat-based environment. For that specific audience, it is one of the best products available. But its design leaves gaps for players who want something different.


ZunaBet: Filling Those Gaps

ZunaBet launched in 2026 and was purpose-built for a different kind of player. It is operated by Strathvale Group Ltd, registered in Belize, and holds an Anjouan gaming license (ALSI-202510047-FI2). The founding team carries more than 20 years of combined experience across the online gambling industry.

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The first thing that separates ZunaBet from a platform like DraftKings is the game count. ZunaBet hosts 11,294 games from 63 different providers. That library includes titles from Pragmatic Play, Hacksaw Gaming, Evolution, Yggdrasil, BGaming, and many more. Slots lead the catalog, but RNG table games and live dealer rooms with professional hosts contribute meaningful depth. No single US-regulated platform comes close to matching this number, primarily because regulatory requirements cap what can be offered in any given state.

ZunaBet Website
ZunaBet Website

The sportsbook at ZunaBet runs as a full product alongside the casino. Coverage spans football, basketball, tennis, NHL, and other major leagues. Esports betting goes deep with markets for CS2, Dota 2, League of Legends, and Valorant. Virtual sports and combat sports add categories that traditional sportsbooks often overlook. The entire offering operates as an integrated platform where switching between a casino session and a sports bet takes seconds.

Payments are crypto-first. ZunaBet accepts over 20 cryptocurrencies: BTC, ETH, USDT across multiple blockchain networks, SOL, DOGE, ADA, XRP, and additional tokens. The platform charges no processing fees, and withdrawals move quickly. Players use whatever coin they already hold in their wallet.

The welcome bonus package reaches up to $5,000 in matched deposits plus 75 free spins over three deposits. The breakdown is clean: 100% match up to $2,000 and 25 spins on the first deposit, 50% up to $1,500 and 25 spins on the second, and 100% up to $1,500 and 25 spins on the third. No progressive unlock systems or points-based release mechanics. Just clear matched deposits spread across three visits.

Native apps exist for iOS, Android, Windows, and MacOS. The web platform runs on HTML5 with a dark interface, responsive layout, and fast performance. Live chat support is available at all hours.

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Games: Regulation Creates a Ceiling

DraftKings operates under state-by-state licensing in the US. Each state has its own gaming commission that approves which providers and games can appear on the platform. The result is that game libraries differ depending on where a player is located, and the total count in any single state is a fraction of what an internationally operating platform can offer.

ZunaBet does not face those constraints. With 63 providers contributing to the platform, the game catalog runs deeper and wider than what any single regulated US market permits. Players get access to studios and titles that may never appear on DraftKings due to licensing limitations. For anyone who values having the broadest possible range of games available at any time, the structural advantage sits firmly with ZunaBet.

This is not a criticism of DraftKings. The company operates within the rules of its markets. But it does illustrate why players looking for maximum variety often end up exploring platforms outside the traditional regulatory framework.


Sportsbook: Built for Different Audiences

DraftKings has one of the best sportsbooks in the US market. Coverage of American sports is excellent, the live betting product is smooth, and the promotional calendar keeps regular bettors engaged. If you want to bet on the Super Bowl, March Madness, or the World Series within a legal, regulated environment, DraftKings handles that about as well as anyone.

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ZunaBet’s sportsbook takes a more global approach. Mainstream sports are well covered, but the platform also invests heavily in esports markets. Dedicated betting options for CS2, Dota 2, League of Legends, and Valorant reflect a deliberate choice to serve the growing audience of younger bettors who follow competitive gaming as closely as traditional sports. Virtual sports and combat sports fill out the rest of the lineup.

Zunabet eSports
Zunabet eSports

The audiences these sportsbooks serve overlap in places but diverge in others. DraftKings is optimized for American sports culture. ZunaBet is built for a global, digitally native audience that bets across categories. Neither approach is wrong, but one is more future-facing than the other as the betting audience continues to get younger and more internationally connected.


Bonuses: Structured vs Variable

DraftKings runs frequent promotions tied to specific sporting events. Odds boosts, deposit matches on certain occasions, and free bet offers appear regularly. The specifics change often, which keeps things interesting but can also make it difficult for players to plan around a consistent offer.

ZunaBet goes with a fixed welcome structure. Up to $5,000 across three deposits plus 75 free spins. First deposit gets 100% up to $2,000 and 25 spins. Second gets 50% up to $1,500 and 25 spins. Third gets 100% up to $1,500 and 25 spins. The offer does not change from week to week. Players know what they are getting before they sign up, and the three-deposit format gives them a reason to come back without adding any confusion.

Welcome Bonus

Both approaches have their logic. But for players who prefer knowing exactly what a platform will give them upfront, ZunaBet’s transparency is appealing.


Loyalty: Volume vs Value

DraftKings Dynasty Rewards tracks wagering through Crowns, which convert to DK Dollars. The system has tiers and provides incremental returns. It functions as a standard rewards program that gives something back to active players, though the actual return rate stays relatively low across all tiers.

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ZunaBet built its loyalty program around a dragon evolution concept featuring a mascot named Zuno. Six tiers carry defined rakeback percentages: Squire at 1%, Warden at 2%, Champion at 4%, Divine at 5%, Knight at 10%, and Ultimate at 20%. Each tier adds additional perks including free spins scaling to 1,000, VIP club access, and double wheel spins.

Meet Zuno: The Zunabet mascot
Meet Zuno: The Zunabet mascot

The contrast is significant. DraftKings rewards continued betting with modest returns. ZunaBet rewards continued betting with escalating returns that top out at 20% rakeback. For regular players comparing the long-term value of sticking with one platform, ZunaBet’s program returns substantially more at every level. That 20% ceiling is not standard in this industry. It is exceptional, and it gives serious players a financial reason to commit to ZunaBet over other options.


Payments: Two Different Worlds

DraftKings handles all transactions through traditional financial channels. Bank accounts, cards, and approved processors move money in and out. Deposits are generally quick, but withdrawals can involve waiting periods depending on the method. Identity verification is mandatory for every account.

ZunaBet runs entirely on crypto. More than 20 coins are accepted, including stablecoins on multiple chains. No platform fees are charged. Withdrawals are fast. There is no requirement to connect a bank account or go through the kind of identity verification that fiat platforms demand.

These are fundamentally different experiences. Players who operate within the traditional banking system and value regulatory oversight will naturally lean toward DraftKings. Players who hold crypto and want the speed, flexibility, and privacy that comes with it will find ZunaBet a far better fit. As crypto adoption continues to grow, the audience for platforms like ZunaBet grows with it.

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What the Momentum Suggests

DraftKings has a locked-in position in the US gambling market. Its brand recognition, regulatory licenses, sports partnerships, and advertising spend ensure it will remain a dominant force for years to come. That is not in question.

What is worth watching is the growing interest in platforms like ZunaBet among a segment of the market that DraftKings was never designed to serve. Crypto-native players, international audiences, esports bettors, and players who want massive game libraries and generous loyalty returns are actively searching for alternatives. ZunaBet meets those players exactly where they are.

More games than any regulated US platform can offer. More cryptocurrency options than most crypto casinos provide. A sportsbook that covers traditional and emerging betting markets. A welcome bonus that is straightforward and generous. And a loyalty program that returns up to 20% to its most committed players.

DraftKings owns the present of mainstream American sports betting. ZunaBet is building something for the next generation of gamblers who think differently about payments, play differently across game categories, and expect more back from the platforms they choose. The search momentum suggests that audience is growing, and ZunaBet is exactly what they have been looking for.

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DarkSword iPhone Exploit Threatens Crypto Wallets: What Every Holder Must Know Now

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

TLDR:

  • DarkSword exploits six iOS vulnerabilities, including three zero-days, requiring no user clicks to execute.
  • Around 270 million iPhones running iOS 18.4 to 18.7 remain exposed until users update to iOS 26.3.
  • Three threat actors, including Russian group UNC6353, are linked to the DarkSword exploit campaign.
  • Apple has patched all six vulnerabilities; updating immediately is the fastest way to stay protected.

DarkSword, a newly identified iPhone exploit, is placing millions of crypto users at serious risk. Google’s Threat Intelligence Group disclosed the threat in March 2026.

The exploit targets devices running iOS 18.4 through 18.7. Estimates put the number of vulnerable iPhones at around 270 million.

The attack works silently in the background with no clicks required. A single visit to a compromised website can lead to a full device takeover.

How DarkSword Works and What Data It Can Steal

DarkSword exploits a chain of six vulnerabilities, three of which are classified as zero-days. When a user visits a fake or compromised website, hidden code activates on the device.

The process happens in the background, with no visible warnings shown to the user. There is no need for the user to click anything for the attack to succeed.

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Once inside the device, attackers can access crypto wallet data and seed phrases stored on the phone. Saved passwords are also exposed, along with private conversations across Telegram, WhatsApp, and iMessage.

On top of that, the malware can extract photos, location history, and record audio through the device microphone.

Crypto Patel shared on X that attackers are specifically hunting for crypto wallet apps and seed phrases. That statement separates DarkSword from a standard espionage operation. It is a targeted financial attack designed to drain the holdings of crypto users.

The threat is especially serious for those who store seed phrases digitally. Security professionals have long advised against saving such data on a mobile device.

DarkSword now provides a concrete reason for crypto holders to reconsider how they secure sensitive information. Moving seed phrase storage offline is a practical step that reduces risk considerably.

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Who Is Behind DarkSword and How to Protect Your Device

Google’s investigation linked DarkSword to three separate threat actors. Among them are Russian espionage group UNC6353, Turkish surveillance vendor PARS Defense, and an additional cluster known as UNC6748.

The presence of multiple well-resourced groups behind a single exploit makes the campaign particularly concerning.

Reported targets include users in Ukraine, Saudi Arabia, Turkey, and Malaysia. Still, because the attack spreads through websites, any iPhone user could encounter it. Location alone does not determine who is at risk. Users everywhere should treat the threat as active.

Apple acted swiftly and patched all six vulnerabilities connected to DarkSword. The fix is available through an update to iOS 26.3.

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Users who delay that update remain exposed to the full scope of the exploit chain. This is the second major iOS attack reported this month, making timely updates more important than ever.

Beyond the software update, Apple’s Lockdown Mode provides an added layer of defense. Hardware wallets are the safest option for anyone holding large crypto amounts.

Avoiding suspicious websites and refraining from storing seed phrases on any phone remain practical steps every crypto user should follow.

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Gold slides below $4.5k, crypto is bleeding, and “store of value” myths are cracking

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Bitcoin-gold ratio flashes historic warning as altcoins sink to record lows

Gold has slipped from above $5,200 while crypto bleeds and silver dumps, exposing “store of value” as a question of volatility, leverage and time horizon, not memes.

Summary

  • Gold has dropped about 10–15% from its early‑March spike above $5,200 to around $4,560, but remains structurally elevated and keeps finding dip buyers near the mid‑$4,500s.
  • Silver has been hit harder, sliding roughly 20% this month back toward the low‑$70s per ounce, underscoring its role as the high‑beta “altcoin” of the metals complex.
  • Crypto is mirroring the direction with more violence: BTC stuck in the high‑$60,000s to low‑$70,000s, total market cap around $2.4 trillion, and Bitcoin dominance near 58% as capital hides in the least ugly risk asset.

Spot gold is trading just below $4,600 today, down roughly 10–15% from its early‑March blow‑off above $5,200, but still structurally elevated versus last year’s range. The parabolic spike has unwound, yet the metal holds a firm bid as a macro hedge, with buyers repeatedly stepping in on dips toward the mid‑$4,500s rather than capitulating en masse. Silver, by contrast, has been punished harder: spot sits around the low‑$70s per ounce after a ~20% month‑to‑date drawdown, with futures pointing to further downside if resistance near $74 holds.

Crypto is mirroring the metals’ directionality but with far more violence. Bitcoin trades around the high‑$60,000s to low‑$70,000s, off more than 4% in the last 24 hours and roughly $17,000 below its level a year ago, as leverage gets flushed out of the system. Total crypto market cap sits in the $2.4–$2.5 trillion band, with BTC dominance above 58%, underscoring how capital is crowding back into the most “respectable” corner of the asset class as altcoins underperform. The tape is classic deleveraging: failed intraday bounces, narrowing leadership, and a persistent bid for liquidity over narrative.

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Set against that backdrop, the gold‑versus‑Bitcoin (BTC) framing looks less like a clean binary and more like a duration trade on macro stress. Gold below $4,600 is still signaling strong, but no longer panicked, demand for hard collateral from institutions that care about collateral rehypothecation, margin frameworks, and Basel treatment. Bitcoin around $70,000 is functioning as a high‑beta macro asset: sensitive to rates, dollar strength, and ETF flows, with predictions and technicals flagging risk of a deeper slide toward the mid‑$50,000s if support breaks. Silver, meanwhile, behaves like the altcoin of the metals complex—levered to growth and speculation, attractive on upside days, brutal when liquidity tightens.

For allocators, the positioning logic is blunt. In this regime, gold is the low‑volatility ballast: trim the chase from the $5,000 area, but keep core exposure as long as real yields and geopolitical noise stay elevated. Bitcoin is the liquid convexity leg within crypto, but it is not trading like a safe haven; sizing needs to reflect equity‑like drawdown risk, not ETF‑brochure marketing. Silver and high‑beta altcoins both belong in the same bucket: small notional, strict risk, used for targeted upside rather than any pretense of wealth preservation.

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Early CLARITY Act Deal Reached Between White House and US Lawmakers: Report

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US Government, United States

Rumors are circulating that a tentative deal has been struck between the White House and US lawmakers on stablecoin yield, potentially moving the CLARITY crypto market structure bill forward.

Republican Senator Thom Tillis and Democratic Senator Angela Alsobrooks, both members of the Senate Committee on Banking, Housing, and Urban Affairs, have reached an “agreement in principle,” according to a Friday Politico report.

“I think what it will do is to allow us to protect innovation, but also gives us the opportunity to prevent widespread deposit flight,” Alsobrooks said, adding that the deal prohibits stablecoin yield on “passive balances.”

US Government, United States
The CLARITY Act. Source: US Congress

Specific details of the prospective deal have yet to emerge, and Senator Tillis said the crypto industry must vet the agreement before it is finalized. 

Cointelegraph reached out to the White House for details on the prospective deal but did not receive a response by the time of publication.

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Speaking at the DC Blockchain Summit on Wednesday, Wyoming Senator Cynthia Lummis, one of the biggest advocates for digital asset policy on the Hill, said, “We are so close” to passing a comprehensive crypto regulatory framework.

A spokesperson for Senator Lummis told Cointelegraph on Wednesday that a deal is expected to materialize in “the next few days,” and that Senator Lummis is working to hammer out ethics language in the bill.

US Government, United States
Wyoming Senator Cynthia Lummis addresses the DC Blockchain Summit. Source: DC Blockchain Summit

The Digital Asset Market Clarity Act of 2025, otherwise known as the CLARITY Act, is a major piece of crypto legislation and was widely anticipated to pass without issue after the GENIUS stablecoin framework was signed into law.

However, the bill stalled in January after major industry players, including crypto exchange Coinbase, voiced concerns, including whether stablecoin issuers could share yield with token holders

Related: CLARITY Act risks handing crypto to centralized players: Gnosis exec

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Banks are fearful that the bill will erode market share and cause deposit flight

The banking industry opposes yield-bearing stablecoins, citing concerns over the flight of bank deposits, which have yields far below 1%, and the erosion of banking market share.

Patrick Witt, the executive director of the White House Council of Advisors for Digital Assets, said that these concerns are overblown.

A wave of fresh capital will likely enter the US banking industry if dollar-pegged yield-bearing stablecoins are legalized and regulated, Witt said.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in the stablecoin fight

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