25-Year-Old Luana Lopes Lara Becomes worlds Youngest Self-Made Billionaire with Betting Exchange Kalshi
NEW YORK – Luana Lopes Lara, 25, has become the world’s youngest self-made billionaire thanks to the success of Kalshi, a unique betting exchange she co-founded. The platform allows users to trade contracts on the outcome of future events – from elections and sports games to even celebrity engagements – and has recently gained traction with partnerships including the National Hockey League, StockX, and Google Finance.
Kalshi’s innovative approach to event-based trading, combined with regulatory approval secured in 2020, has propelled Lopes Lara to unprecedented financial heights. The company’s success underscores a growing interest in alternative investment opportunities and the potential for young entrepreneurs to disrupt established industries. While traditional betting focuses on wagering on an outcome, Kalshi functions as an exchange where users buy and sell contracts, speculating on the probability of an event occurring.
Lopes Lara, along with fellow student tarek Mansour (29), conceived the idea while studying at Stanford University. They envisioned a platform where traders could incorporate external events – such as election results or the possibility of natural disasters – into their investment strategies. However, securing the necessary federal approval proved challenging, with over 40 law firms initially declining to represent the young founders due to their age and the company’s small size.
The founders finally received approval in November 2020. During the pandemic,Lopes Lara built the business from london while mansour navigated personal hardship in Beirut,Lebanon. He continued working on Kalshi remotely even after the devastating Beirut port explosion in August 2020, which killed 200 people, spending his days assisting with cleanup and search efforts.
Kalshi has also attracted high-profile attention, with Donald Trump Jr. serving on its advisory board. The platform’s growth reflects a broader trend of financial innovation and the increasing acceptance of alternative investment vehicles.
Justin Arber (jar), born in 1999, has been working as an editor at the news desk since 2022. At times he takes over shift management for early and late shifts.
