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- Kalshi Lands CNBC Deal; Abu Dhabi Challenges EMG; Visa Returns to Syria
Kalshi Lands CNBC Deal; Abu Dhabi Challenges EMG; Visa Returns to Syria
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Sunday, December 7, 2025
Happy Sunday everyone!
Prediction-market platform Kalshi has signed an exclusive multi-year partnership with CNBC, days after securing a similar deal with CNN. The agreement follows a $1bn Series E round, doubling its valuation to $11bn, led by Tarek Mansour, now the Middle East’s youngest self-made billionaire. The Abu Dhabi Investment Council has filed suit against US private equity firm EMG, accusing it of undervaluing Ascent Resources by steering a sale into a continuation vehicle at $5.5bn, well below investors’ estimates of more than $7bn, according to the Financial Times. Meanwhile, Visa plans to relaunch operations in Syria, partnering with the central bank to build a national digital-payments system as the country reopens to global financial infrastructure following political shifts and easing Western sanctions.
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Markets
EGX 30 | 41,499.07 | Closed |
DFMGI | 5,928.02 | Closed |
ADX | 9,950.90 | Closed |
Tadawul | 10,626.15 | Closed |
Kalshi’s Lebanese Co-Founder Has Signed a Deal With CNBC, Days After CNN Partnership
What’s it About?
Kalshi has secured an exclusive multi-year partnership with CNBC, just days after announcing a similar agreement with CNN. Starting in 2026, CNBC will integrate Kalshi’s real-time prediction market data across its television, digital and subscription platforms. The announcement follows a $1 billion Series E round that lifted Kalshi’s valuation to $11 billion, up from $5 billion. The company was founded in 2018 by CEO Tarek Mansour, now the Middle East’s youngest self-made billionaire, and Luana Lopes Lara.
Why it Matters?
This marks the first time a major financial news network will embed prediction market data at scale. It signals growing mainstream acceptance of event markets as a tool for financial forecasting, investor sentiment analysis and real-time risk evaluation.
What’s Next?
CNBC plans to roll out Kalshi probabilities across flagship shows, supported by an on-screen ticker. Analysts expect more media partnerships and regulatory expansion as prediction markets move further into institutional finance.
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Abu Dhabi Sovereign Fund Sues US Private Equity Firm Over ‘Conflicted’ Energy Deal
What’s it About?
Abu Dhabi Investment Council (ADIC) has filed a lawsuit accusing US private equity group Energy & Minerals Group (EMG) of self-dealing in a proposed sale of its stake in Ascent Resources. According to the Financial Times, ADIC alleges EMG is steering Ascent into a continuation vehicle at an undervalued $5.5bn price, despite investors believing the US gas driller is worth more than $7bn including debt.
Why it Matters?
The case highlights growing tensions around continuation fund deals, which accounted for a record 19% of private-equity exits in 2025. Abu Dhabi’s challenge underscores rising scrutiny from major sovereign investors who expect transparent valuations and fair treatment in an industry struggling to offload ageing energy assets.
What’s Next?
ADIC is pushing for a formal sale process that would test Ascent’s value on the open market. A ruling in its favour could reshape governance norms across private equity, strengthening Abu Dhabi’s stance as a global investor demanding higher standards of fiduciary conduct.
Visa to Re-Enter Syria as Sanctions Ease and Digital Payments Reopen
What’s it About?
Visa plans to launch operations in Syria after reaching an agreement with the Syrian central bank to build a national digital-payments ecosystem. The company will work with licensed banks to issue cards and enable digital wallets using global standards. The move follows a series of political shifts: Bashar al-Assad’s ouster, the interim government’s push to restore international ties, and Washington and Europe easing major sanctions.
Why it Matters?
Re-entry by a global payments giant signals early reintegration of Syria’s financial system after more than a decade of isolation. It also aligns with IMF support for rebuilding the banking sector, strengthening monetary policy tools and laying groundwork for broader capital-market rehabilitation.
What’s Next?
Analysts expect gradual onboarding of Syrian banks, followed by merchant-network expansion once regulatory benchmarks are met. The pace will depend on political stability, compliance infrastructure and continued sanctions relief from the US and Europe.
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👨💻From Smashi Business’ Desk
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