Polymarket Accuses Kalshi of Industrial Espionage as Prediction Market Industry Turns Fierce

According to the New York Post, prediction market Polymarket has accused competitor Kalshi of commercial espionage, suspecting that the other party has been monitoring its New York office and employees to steal trade secrets. The conflict has escalated again amid intense industry competition.

Polymarket executives revealed that the company has compiled a file called "Imitators," documenting about a dozen suspicious incidents, showing that products launched by Kalshi are strikingly similar to those of Polymarket, with timing that raises suspicion.

Notably, the venture capital firm Paradigm supporting Kalshi rents office space directly opposite Polymarket’s New York Soho office, allowing them to observe parts of Polymarket’s office, and possibly even see employees’ computer screens.

In response, Polymarket darkened its office windows earlier this spring. Paradigm denied the allegations, calling the accusations "ridiculous and laughable."

The most prominent case occurred in February this year, when Polymarket was scheduled to launch a free grocery store event on February 12, but Kalshi preemptively launched a similar free grocery promotion in New York nine days before the event.

Additionally, when Polymarket planned to announce its perpetual contract trading product on April 21, related news from Kalshi was leaked by tech media one hour in advance. Polymarket executives stated that these coincidences are "too many" and believe there is malicious intent behind them.

However, Kalshi’s official response completely denied the accusations, calling them absurd, false, and lacking factual basis. Given the long-standing rivalry between the two in compliance strategies and product layouts, this espionage accusation further amplifies industry competition conflicts.

#预测市场 # Business Competition