TechFlow news, December 9 — According to Business Insider, Kalshi CEO Tarek Mansour said on a podcast that the competitive relationship with rival Polymarket has driven both companies to work harder.
Mansour likened the rivalry between the two firms to the matchups between NFL quarterbacks Tom Brady and Eli Manning, as well as the competition between soccer stars Lionel Messi and Cristiano Ronaldo. He stated, "Without Polymarket, we wouldn't be pushing so hard on marketing and product development. This competition will push us to grow the industry to heights we couldn't have reached otherwise, which ultimately benefits customers in the long run."
Kalshi, founded in 2018, announced last week partnerships with CNN and CNBC and secured $1 billion in funding at an $11 billion valuation. Its competitor Polymarket, founded in 2020, reached a valuation of $13.5 billion in November.
