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Polymarket Accuses Kalshi of Corporate Espionage; Kalshi Takes April Volume Lead at $5.42B

GateNews
Prediction Market
KALSHI-2.37%
According to the New York Post, Polymarket accused its rival Kalshi of corporate espionage in April 2026, alleging the firm copied product launches and may be surveilling its Manhattan offices. Polymarket compiled an internal dossier called "The Imitators" documenting roughly a dozen suspicious incidents, including identical product announcements within hours and nearly simultaneous promotional events. The firm's head of marketing Matthew Modabber told the Post, "There have been a couple too many coincidences." Polymarket even tinted some office windows after noting that Paradigm, a venture firm backing Kalshi, leases offices directly across from its SoHo headquarters with potential sightlines to employee screens. Both companies rejected the allegations, with Kalshi spokesperson Jack Such calling them "sad and borderline delusional" and noting the firm had built its perpetual-futures product since 2024. Kalshi overtook Polymarket in April taker volume for the first time, generating $5.42 billion compared to Polymarket's $1.99 billion, per Dune Analytics.
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Market Whisper06-04 01:50
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