Kalshi CEO Tarek Mansour does not see Polymarket as its main competitor. He told Front Office Sports that the big betting and betting players threaten his market exchange more than his closest rival.
Mansour named major CME Group, brokerage Robinhood and sports betting as his most watched competitors. His comments debunk the fight that is often framed as a two-horse race between Kalshi and Polymarket.
Why Mansour Looks Already Polymarket
Kalshi dominates the US prediction market. Bank of America experts put its share at about 91%, Polymarket second and Underdog third.
The lead allows Mansour to treat the race differently, like Kalshi before passed the Polymarket on regulated turf last year.
The raw volume tells a close story. In the last 30 days, Kalshi traded around $9.8 billion versus Polymarket’s $9.9 billion, according to DeFi Rate.
Kalshi still leads as he counts. It has about $1 billion of $1.6 billion in open businesses and accounts for about 97% of all active markets.
“When I think about competition, I don’t think about Polymarket, honestly, like the others,” FOS. reportquoting Tarek Mansour, CEO of Kalshi.
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A Wide Field of Opponents
Mansour pointed to CME Group, which he started FanDuel Predictions is a sportsbook in December. The program trades event contracts for sports results and financial data.
Robinhood distorts the picture. They he built Its prediction markets are on the Kalshi exchange in 2025. It then began taking World Cup and baseball contracts to Rothera, which has Susquehanna.
DraftKings, Novig and Coinbase have also moved in the prediction marketsmaking the second place difficult to name.
Polymarket still relies on its offshore platform, which weighs heavily increase in sea trade from US users on VPN.
The 2026 World Cup lifted them both, by one World Cup winning market drawing millions on betting every day.
Rules Create Competition
Mansour wants Polymarket to be under a managed umbrella. He added that allegations of insider trading on his global platform taint the entire industry.
Two penalties exacerbated that concern. Opponents a case Army veteran Gannon Van Dyke in first federal case linked to market betting. He is said to have turned about $33,000 into $400,000 during Maduro’s tenure.
After a few weeks, the opposition condemned Google Scholar Michele Spagnuolo. He is said to have made about $1.2 million betting on the person who will be the most searched by Google in 2025.
That’s the CFTC provided 267-page law on June 10. It would allow for multi-sport contracts while banning sports props, directional betting and mixed sports, and a 45-day comment window.
Both platforms also found reach this year when Google Finance integrated their data.
Currently, Kalshi dominates the US legal market while Polymarket and the larger segment are chasing its lead.
The timing of the feedback can determine how much the volume changes.
A note Kalshi CEO Says Polymarket Is Not His Biggest Enemy, Points Out 3 Big Threats appeared for the first time BeInCrypto.
