BlockBeats news, on December 9th, Kalshi CEO Tarek Mansour stated in a podcast that the competitive relationship with rival Polymarket has driven both companies to work harder for development.
Mansour compared the competition between the two companies to the showdown between NFL quarterbacks Tom Brady and Eli Manning, as well as the rivalry 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 drive us to scale the industry to heights that were previously unattainable, which will ultimately benefit customers in the long run."
Kalshi was founded in 2018, and last week the company announced partnerships with CNN and CNBC, completing a $1 billion financing at a valuation of $11 billion. Its competitor Polymarket was founded in 2020, with a valuation reaching $13.5 billion in November.