[Kalshi CEO Says Competition with Polymarket Drives Growth and Expands Industry Scale]
Kalshi prediction market platform CEO Tarek Mansour stated on a podcast that the competitive relationship with rival Polymarket has driven both companies to work harder on their development. Mansour compared the competition between the two companies to a showdown between sports stars, noting that without Polymarket, they would not have pushed so hard on marketing and product development. This competition, he said, will help expand the industry's scale and bring long-term benefits to customers. Kalshi, founded in 2018, announced last week a partnership with CNN and CNBC and completed a $1 billion funding round at a $11 billion valuation. Its competitor Polymarket, founded in 2020, reached a valuation of $13.5 billion in November.