The balanced chemical equation for the reaction between lead nitrate and potassium iodide is:

Pb(NO3)2 (aq) + 2KI (aq) → PbI2 (s) + 2KNO3 (aq)

In this reaction, lead nitrate (Pb(NO3)2) reacts with potassium iodide (KI) to form lead iodide (PbI2) and potassium nitrate (KNO3). Lead iodide is a yellow precipitate that is insoluble in water, while potassium nitrate is a soluble salt.