Kalshi CEO: The competition with Polymarket is like a "sports rivalry," pushing both sides to make prediction markets better.

Odaily Planet Daily News - Kalshi CEO Tarek Mansour stated on the latest episode of the “20VC” podcast that the prediction market industry is accelerating its maturity due to competition, and that the rivalry with Polymarket is more like a legendary sports showdown. He said, “A real industry needs competition, and competition forces you to push beyond your original limits.” Mansour compared the competition between Kalshi and Polymarket to the rivalry between NFL quarterbacks Tom Brady and Eli Manning, noting that both became better through fierce competition, which continuously raised their level. He also likened them to Messi and Ronaldo, saying, “It’s no coincidence that the greatest players often appear in the same era.” Mansour said that the existence of Polymarket has prompted Kalshi to invest more in product development and marketing, which will be a “net positive for users” in the long run. He also mentioned that in the past, he encouraged the team to promote memes related to Polymarket, but now considers that a “mistake” and has made it clear to the team that such actions should not be repeated. The report noted that Kalshi recently announced partnerships with CNN and CNBC, and completed financing at a $11 billion valuation; Polymarket’s latest valuation is $13.5 billion. (Business Insider)