Kalshi CEO: Polymarket is not the main competitor; CME, Robinhood, and DraftKings pose a greater threat

Kalshi CEO Tarek Mansour stated in an interview with Front Office Sports that he does not view Polymarket as a primary competitor, but is more concerned about the threats posed by CME Group, Robinhood, and sports betting operators. According to data from Bank of America analysts, Kalshi holds about 91% of the regulated prediction market share in the U.S., with approximately $1 billion of the $1.6 billion in open contracts in the industry, and has listed about 97% of active markets.

In the past 30 days, Kalshi's trading volume was approximately $9.8 billion, close to Polymarket's $9.9 billion. CME launched FanDuel Predicts in partnership with FanDuel last December; Robinhood began shifting some contracts to its Rothera platform in collaboration with Susquehanna after building a prediction market based on the Kalshi exchange in 2025.

Mansour called for Polymarket to be included in a regulatory framework, stating that insider trading cases on its offshore platform harm the entire industry. The CFTC released a 267-page rule proposal on June 10, intending to allow most sports contracts but prohibiting in-game betting and college pre-game sports, with a 45-day public comment period.

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