A cutting element for a cutting tool. The cutting element may be at least partially made from a composite material including a carbide material, a binder material, and a plurality of diamond particles. The carbide material may be from 55 wt % to 97 wt % of a total weight of the composite material. The binder material may be from 3 wt % to 20 wt % of the total weight of the composite material. The plurality of diamond particles may be from 0.1% to 25% of the total weight of the composite material. The carbide material and the binder material may be combined and sintered together prior to being combined with the plurality of diamond particles, such that the carbide material and the binder material form a plurality of pellets having an average cross-sectional length from 10 μm to 250 μm.