Kalshi CEO: Polymarket is not a major competitor, CME, Robinhood and DraftKings are a bigger threat

Comparing the news, Kalshi CEO Tarek Mansour said in an interview with Front Office Sports that he does not see Polymarket as a major competitor, but is more concerned about the threat posed by CME Group, Robinhood, and sports betting operators. According to Bank of America analyst data, Kalshi accounts for about 91% of the US regulated forecast market, holds about $1 billion of the industry's approximately $1.6 billion outstanding contracts, and lists about 97% of the active market.

Kalshi traded around $9.8 billion over the past 30 days, close to Polymarket's $9.9 billion. CME launched FanDuel Predicts in December last year; after building a prediction market based on the Kalshi exchange in 2025, Robinhood began switching some of its contracts to its Rothera platform in partnership with Susquehanna.

Mansour called on Polymarket to be included in the regulatory framework, saying its offshore platform's insider trading cases hurt the entire industry. The CFTC issued a 267-page rule proposal on June 10 to allow multiple sports contracts but prohibit in-game betting and pre-college sports. The public comment period is 45 days.