Kalshi, polymarket's rival?

[Maslate]

Kalshi's biggest advantage is the license to operate in the United States market, and that's a big advantage

The North American market is very large, there is a lot of money and demand for betting
Offering the service legally, without users having to use VPNs and without risk, is already the biggest advantage they have for this market.

You said it right.. same type of platform, but one is regulated while the other isn't. That said, I think the non-regulated ones are still more popular. A lot of bettors prefer prediction markets like Polymarket because they don’t have to deal with KYC requirements.

If Kalshi is operating in the US, then KYC is definitely part of the process. And in that case, some people might just choose to bet on a regular sportsbook instead. At least there, the experience is more familiar.

[stompix]

Assuming the numbers are true, well, at least for US sports Klashi beats the hell out of Polymarket

https://kalshi.com/markets/kxmlbgame/professional-baseball-game
They have a total volume on the series of $121 million.
Polymarket, which trades individuals for each match has barely $20k per game with a max of 60k-80k when the game begins.

Either way it has two major advantages, acces to the biggest market in the world and most funds, the USA, and second, the ability to deposit directly via credit/debit and wire on top of crypto, wiht Polymarket you need an intermediary to buy crypto with your card before depositing that crypto to your account.

[YOSHIE]

I believe Polymarket isn’t licensed, but this one is.

For me more and more prediction markets I think the better, they gamblers or bettors can use the best offer.
I just saw that the KALSHI prediction market was not widely discussed here, Yes, one side of a good point license for KALSHI bettor is more confident to spend money there.
Although Polymarkets are known to not have a license, operating in the "gray area" just like predictit but polymarket is quite well known in the US.

What I want to say, whatever the name of the License Prediction Market Web or not, we all must also be careful, gambling never gives you the opportunity, for that betting is as much as you can lose.

[Charles-Tim]

You said it right.. same type of platform, but one is regulated while the other isn't. That said, I think the non-regulated ones are still more popular. A lot of bettors prefer prediction markets like Polymarket because they don’t have to deal with KYC requirements.

I think I have heard before that those that are living in the United States must have to pay tax if they win while gambling, and it is not a small amount of money if the person win big. No KYC on Polymarket. That can make them just decide to use a noncustodial wallet to connect to the prediction site and bet instead of using the regulated one with license. That sounds not good at all but I know how people think.

[tabas]

Funded and valued are totally different. While the value of Polymarket is no doubt a great share of the market a billion dollars. With this funding, and CEO just said that it's now valued at $2B. Well, we might sense that the gambling industry or the prediction market to be specific is going to be in a bubble that has to burst in the next few years. Polymarket is even known than Kalshi and yet, the latter is valued more than the known one?

[Davidvictorson]

Prediction betting is in my estimation, one of the fastest growing industry. It is the first people in that will make a lot of money before it becomes very saturated and highly competitive.

So is this the one that could take down traditional sportsbooks, or is it just an alternative?
Has anyone here tried betting using this platform or at least on Polymarket?

No, it is not taking down traditional sportsbooks and it is not an alternative. I think that they are in different markets and to an extent cater for different audience with different preference. I expect to see some other underground/off-shore prediction sites pop up later but when that happens people should afford them.

[retreat]

It's a betting market valued at $2 billion, so it's actually a big deal. Since it's US-based, it's most likely regulated.

This is the first time I have heard of this platform, because so far I only know about the prediction market is Polymarket. But the value of $ 2 billion is quite high for a new player in the prediction market, and since they are a regulated platform and the market they are targeting is the US where many citizens already play in the prediction market, so it is likely that this platform will grow very well there.

So is this the one that could take down traditional sportsbooks, or is it just an alternative?

Even though both of them provide sports betting, I think that prediction platforms like Kelshi or Polymarket are just alternative platforms, because after all, sportsbooks platforms are players who have been in the sports betting industry for a longer time and they have better user experience, bonuses, promotions, and other things, which makes them still the main choice for people in sports betting.

[aoluain]

First time hearing about this platform but then again I have never used these types of
platforms like polymarket. I see this new one also lists sports betting too.

The OP asks if this platform will threaten existing sports betting sites and I dont
think so eventhough they will certainly command a big slice of the market but the
gambling market is enormous

[Apocollapse]

Kalshi looks bigger and safer than polymarket.

I don't see polymarket offer betting for each football match, polymarket only list big competitions.

In the long run Kalshi will beat polymarket, they just need time to make people recognize them and make their brand popular.

[r_victory]

Kalshi, polymarket's rival?

That's what it seems to be. Both have practically the same layout and proposal. Both are raising funds for their operations, which is good. When they have interested investors, the platforms tend to grow and become more "professional", gaining more transparency in their processes. And the best part is that for those who like prediction markets, it will be another option, perhaps this will bring opportunities for other platforms to launch.

[Maslate]

Kalshi looks bigger and safer than polymarket.

I don't see polymarket offer betting for each football match, polymarket only list big competitions.

In the long run Kalshi will beat polymarket, they just need time to make people recognize them and make their brand popular.

I don’t think that will happen. Polymarket’s popularity comes from being decentralized and unregulated, which makes it very appealing especially to people who value privacy.

Kalshi, on the other hand, operates under U.S. law, and you can’t really be anonymous or private in that system. The KYC requirement could be what limits their growth. Meanwhile, Polymarket might continue to stay on top for that exact reason.

[Darker45]

This is the first time I heard of Kalshi, but I don't think a prediction platform will take down traditional sportsbooks. They aren't the same.

As far as the US market is concerned, Kalshi doesn't rival Polymarket because Polymarket can't even serve US residents. But outside the US market, I think Polymarket will remain the stronger player. In the future, however, despite of or precisely because of its loose KYC implementation, Kalshi might overtake Polymarket.

So far, there are already a handful of countries like France, Singapore, Poland, among others imposing a ban on Polymarket. Aside from having no license to operate as a gambling platform, it's more or less privacy-focused.

[btc_angela]

Kalshi is a licensed prediction market in US. That's why majority of US people used it instead of Polymarket, which is not available in US.
It is Polymarket's major rival. it has pretty good interface, and quite big volume. The negative is that KYC is a mandatory unlike Polymarket.

For people who has privacy concern, Polymarket seems better. The problem is that it has so many scam market created by the insiders kinda different with Kalshi, which is strictly monitored by CFTC.

And probably this is the reason why they put up Kalshi, and they know that Poly become so big during the US Presidential election. And then somewhat after that, regulators goes after Poly.

Although I think since Poly is the prime mover in this kind of betting or gambling, it will still remain as the best one out there even if Kalshi's valuation or how much it's worth. Just like in crypto investment, most of us stay with Bitcoin as it is the one that started the ball rolling for this kind of investment.

[Russlenat]

Although I think since Poly is the prime mover in this kind of betting or gambling, it will still remain as the best one out there even if Kalshi's valuation or how much it's worth. Just like in crypto investment, most of us stay with Bitcoin as it is the one that started the ball rolling for this kind of investment.

We never really know,  the US has a history of going after platforms, even the regulated ones. But since Kalshi is licensed in the US, it’s likely the government will back them or at least support their growth in some way.

That makes Kalshi a serious competitor to Polymarket. I actually see them as a big threat, especially with the government on their side. Plus, Polymarket is blocked in the US, which means they’re missing out on a huge market. Even if only US users stick with Kalshi, that's already a major source of revenue for the platform.

[Dr.Bitcoin_Strange]

I am just hearing about this one today but for polymarket it has been mentioned here many time, so it's not new but I have not opened an account on any of those two platform. That's because the other casinos or bookmakers am using is not lagging in any way, unless there's really something too interesting about the platforms else I really don't see myself betting there and there are really thousands of people in other casinos who still preferred the casinos they are using too, so I don't think they will take over in the future.