Luana Lopes Lara: The Youngest Self-Made Female Billionaire and Kalshi's Rise

Luana Lopes Lara, co-founder and chief operating officer of Kalshi, recently became the world’s youngest self-made female billionaire at the age of 29, with an estimated net worth of $1.3 billion. This milestone was achieved following a significant increase in Kalshi's valuation to $11 billion after a $1 billion Series E funding round in December 2025. Kalshi, a platform for trading on real-world event outcomes, has rapidly established itself as a leader in the prediction market sector.

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Lara's journey began in Brazil, where she trained as a professional ballerina before transitioning to technology. After moving to the United States, she studied computer science at the Massachusetts Institute of Technology (MIT) and co-founded Kalshi in 2018 with Tarek Mansour. Their vision was to create a regulated platform for trading event contracts, a concept that diverged from traditional betting practices. The company sought full federal approval rather than operating offshore, which has been a common practice among competitors.

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In 2020, Kalshi achieved a significant milestone when the Commodity Futures Trading Commission (CFTC) granted it designated contract market status, allowing it to operate within U.S. derivatives law. This regulatory approval enabled Kalshi to list markets across various sectors, including economics and politics. In 2024, Kalshi received judicial approval to offer event contracts on U.S. elections, a practice that had been largely dormant for decades. However, the platform faces scrutiny from several states, including Massachusetts, New York, and Arizona, regarding its sports-related trades, which constitute 90% of its total volume.

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Kalshi recently announced its first international expansion into Brazil through a partnership with XP International, a subsidiary of Brazilian financial giant XP Inc. This move allows Brazilian investors to access Kalshi's markets, focusing on contracts related to inflation and interest rates. The expansion is seen as a natural fit for Lara, given Brazil's historical economic volatility and the population's openness to innovative financial products.

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Kalshi's trading volumes have surged, exceeding $1 billion per week, marking a 1,000% increase since 2024. The platform's monthly active users grew from approximately 600,000 in early 2025 to around 5.1 million today. In 2025, Kalshi generated $263.5 million in fee revenue on nearly $23 billion in trading volume. Lara expressed confidence in the future of prediction markets, stating, “We really think that prediction markets will be bigger than the stock market.”

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Despite its rapid growth, Kalshi faces criticism regarding its business model, particularly from states questioning the legality of its sports-related trades. Critics argue that the platform resembles an unlicensed sportsbook, raising concerns about regulatory compliance and consumer protection.

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• “There are few better trainings for being told ‘no’ and pushing through anyway than being a professional ballerina,” — Alex Immerman, Partner at Andreessen Horowitz

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• “One of the reasons I think Kalshi ended up working out was because of how naive and stubborn we were,” — Luana Lopes Lara, Co-founder of Kalshi

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• “We really think that prediction markets will be bigger than the stock market,” — Luana Lopes Lara, Co-founder of Kalshi

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Kalshi's trajectory under Luana Lopes Lara's leadership illustrates a significant shift in the landscape of financial markets, blending innovation with regulatory challenges as it seeks to redefine how individuals engage with economic predictions.

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