Polymarket Accuses Kalshi of Corporate Espionage Amidst Rivalry

Polymarket has launched an internal investigation into suspected corporate espionage by rival Kalshi, alleging that Kalshi has copied its product launches and may be surveilling its offices in Manhattan. The accusations stem from a dossier of incidents that Polymarket claims show a pattern of suspicious behavior, including Kalshi's launch of similar promotions shortly after Polymarket's announcements. Notably, Polymarket planned a grocery pop-up event for February 12, but Kalshi staged a similar promotion just nine days earlier. Concerns have also been raised about Paradigm, a venture-capital firm backing Kalshi, potentially spying from offices across the street. Both Kalshi and Paradigm have denied the allegations, labeling them as delusional. The rivalry has intensified as Kalshi recently surpassed Polymarket in trading volume, raising the stakes in the competitive prediction market sector.

Key Points: • Polymarket alleges Kalshi engaged in corporate espionage by copying product launches. • The investigation includes a dossier of suspicious incidents and potential surveillance from Paradigm. • Kalshi and Paradigm have denied the allegations, calling them delusional.