Kalshi CEO: Competition with Polymarket is like a "sports rivalry," pushing both sides to improve the prediction market.

According to Odaily Planet Daily, Kalshi CEO Tarek Mansour stated in the latest episode of the "20VC" podcast that the prediction market industry is maturing rapidly due to competition, with its rivalry with Polymarket resembling a contest between sports legends. He said, "A real industry needs competition; competition forces you to push your limits."

Mansour likened the rivalry between Kalshi and Polymarket to the duel between NFL quarterbacks Tom Brady and Eli Manning, noting that their intense competition helped them both improve and elevate their game. He also compared them to Messi and Ronaldo, arguing that "it's no coincidence that the greatest players often emerge in the same era."

Mansour stated that Polymarket's existence has prompted Kalshi to invest more in product and marketing, which will be "net good for users" in the long run. He also mentioned that encouraging the team to promote Polymarket-related memes in the past was a "mistake," and that the team has been clearly told not to do similar things again.

The report points out that Kalshi recently announced partnerships with CNN and CNBC and completed a funding round valued at $11 billion; Polymarket's latest valuation is $13.5 billion. (Business Insider)