Polymarket Accuses Kalshi of Industrial Espionage Over Product Launch "Coincidences"

ChainCatcher reports that the prediction market platform Polymarket suspects its competitor Kalshi of engaging in corporate espionage against its New York office and employees. Polymarket’s marketing head confirmed the company is conducting an internal investigation, stating that “there are too many coincidences” and expressing suspicion of bad faith on Kalshi’s part. According to the report, Polymarket has compiled an internal dossier titled “The Imitators,” documenting around a dozen suspicious incidents. These include Polymarket’s planned launch of a free grocery pop-up event on February 12, which Kalshi unexpectedly launched approximately nine days earlier; additionally, Polymarket had scheduled the announcement of its perpetual futures product on April 21, but just one hour before the announcement, tech media The Information reported that Kalshi was also preparing to launch a similar product. Polymarket employees have also expressed concerns that Paradigm, the venture capital firm backing Kalshi, has its offices directly across from Polymarket’s premises, potentially enabling surveillance of employees’ computer screens. It is reported that Polymarket installed privacy film on some of its office windows this spring. In response, a Kalshi spokesperson denied all allegations, calling Polymarket’s suspicions “sad and nearly delusional.”