Kalshi could be worth $42 billion—if it can survive the Supreme Court unscathed

Good morning. On Fortune’s radar today:

Exclusive: Disney is no longer the king of the theme park world.

Kalshi valuation could be $42 billion.

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The civil war inside Dolly Parton’s estate.

Disney, dethroned: Dubai takes the Magic Kingdom’s crown for the world’s most-visited theme park

Disney’s Magic Kingdom in Orlando has been dethroned as the world’s most-visited theme park by Dubai's Global Village, an attraction that began as a small pop-up fair in a parking lot, Chris Sylt reports for Fortune.

For more than two decades, the Magic Kingdom has held the title of the theme park with the highest annual attendance, according to the Themed Entertainment Association (TEA). Although this accolade is not in doubt, new analysis has revealed that the park isn’t the undisputed leader it was believed to be.

Disney comfortably has the highest combined attendance of any theme park operator. Its 14 outposts in four countries welcomed a total of 145.2 million guests in 2024, according to the TEA’s latest data. The jewel in its crown is the Magic Kingdom in Florida. The latest TEA data shows that in 2024, the Magic Kingdom had an average of 48,732 visitors per day.

However, Global Village’s tally came to 49,505, as it attracted 10 million people in just 202 days (Global Village isn’t open during the brutal Dubai summer). What’s more, Global Village’s typical hours are 38% shorter than those of the Magic Kingdom, so its attendance per hour is around 33% higher than its rival in Orlando.

Kalshi could be worth $42 billion as it eyes IPO

Prediction market Kalshi notched a $1 billion investment in May that valued it at $22 billion, and investors are eyeing an initial public offering as soon as next year. But it could be worth as much as $42 billion, according to an analysis by Pitchbook—assuming the company can survive a looming Supreme Court case that may give individual U.S. states the right to regulate its business. Fortune’s Jeff John Roberts has the numbers.

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