Polymarket founder alleges Kalshi spied on NYC offices and staff
Polymarket founder Shayne Coplan suspects rival prediction market Kalshi of corporate espionage targeting its New York City offices and employees, according to a New York Post report published Thursday. Coplan has compiled a dossier alleging that Kalshi spied on and copied Polymarket's product launches and marketing campaigns. Venture capital firm Paradigm, an investor in Polymarket, is linked to the dispute. The claims, which one source characterizes as 'skullduggery,' escalate tensions between the two largest U.S. event-contract platforms. No specific evidence of the alleged spying has been made public, and no legal action has been reported.
The accusations surface while Kalshi is already defending its regulatory standing in multiple states. Any substantiated corporate-espionage claim could poison Kalshi's investor and CFTC relationships just as the platform expands into crypto perpetuals and dedicated market-maker liquidity.
Polymarket's espionage accusations join Kalshi's legal fight against state-level crackdowns, with the platform already suing Minnesota over felony bans and facing parallel proceedings in Wisconsin and Pennsylvania.