How Kalshi's Lopes Lara Turned Kylie Jenner Gossip Into Billions

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.