Kalshi co-founder asks CFTC to hold Polymarket accountable
Kalshi co-founder and COO Luana Lopes Lara asked the Commodity Futures Trading Commission to hold Polymarket's international exchange accountable, according to a letter to the federal government. The petition, highlighted in a LinkedIn post by Dan Bernstein, singled out Polymarket as Kalshi escalated competitive pressure on its largest rival. The move comes as Kalshi pushes the CFTC to crack down on offshore exchanges, though the effort has not yet resulted in regulatory action against Polymarket. Both platforms remain the two largest prediction-market operators, and the petition intensifies their direct rivalry through regulatory channels rather than product competition alone.
Polymarket to defend its international exchange structure against a direct CFTC petition while the agency is simultaneously drafting final sports-contract rules and suing Rhode Island on preemption grounds.
Joins the CFTC's preemption suit against Rhode Island as the latest front in a multi-state regulatory battle that already includes Minnesota's felony statute challenge and other active state proceedings against both platforms.