BlockBeats report, June 4: According to the New York Post, the rapidly growing prediction market platform Polymarket is attempting to investigate what it believes may be a corporate espionage incident involving its competitor Kalshi. Polymarket allows users to make predictions on a wide range of events, including sports, weather, and even a potential war with Iran.
According to insiders, the New York-based platform, led by 27-year-old CEO Shayne Coplan, has compiled an internal dossier titled “Copycat.” The dossier documents approximately a dozen suspicious incidents and associated data, including instances where Kalshi launched new products highly similar to Polymarket’s offerings at timing that appears highly suspicious.
Matthew Modabber, Head of Marketing at Polymarket, confirmed in a brief phone interview that the company is conducting an investigation. Modabber said, “These coincidences have happened too many times. The way they imitate us shows clear malicious intent. They’ve been closely watching everything we do.”