Polymarket accuses competitor Kalshi of industrial espionage

Decentralized prediction market Polymarket has accused competitor Kalshi of industrial espionage, the New York Post reported. Polymarket stated that Kalshi had prior knowledge of its product launch schedules and marketing strategies, allowing it to release similar services in quick succession. The company added that it is currently investigating the matter. Polymarket pointed to instances in February when Kalshi unveiled projects similar to its own free grocery event and the launch of a perpetual futures trading product. Some sources also suggested the possibility of office surveillance, noting that Kalshi investor Paradigm has an office across the street from Polymarket's headquarters in SoHo, New York. In response, Kalshi has completely denied the allegations, describing them as delusional.