Kalshi and Polymarket Compete for New York Users with "Free Food Benefits"

Odaily News Prediction market platforms Kalshi and Polymarket are engaged in fierce competition for New York users, both using "free food" as a customer acquisition strategy.

Reports indicate that on Tuesday, Kalshi distributed free food benefits worth $50 to users to attract more participants to its real-world event prediction products. Almost simultaneously, its main competitor Polymarket announced plans to open "New York's first free grocery store" on February 12th, promoting it through social media.

Analysis suggests that both promotional campaigns, occurring just before the Super Bowl, reflect direct competition between the two companies for user attention and betting volume. Furthermore, this type of benefit marketing capitalizes on the growing issue of cost-of-living pressures in the New York area, a topic repeatedly emphasized during the campaign of newly elected New York City Mayor Zohran Mamdani. (Bloomberg)