With proposals to rein in prediction markets proliferating through the halls of Congress in recent weeks and months, Kalshi — one of the biggest players in the booming industry — went on defense.
The New York-based platform launched an ad campaign throughout Washington, rolling out mint-green spreads on billboards, bus shelters and inserts in The Washington Post. The ads seek to deflect the spate of criticism being hurled Kalshi’s way and to position it as different from Polymarket, the other global industry giant.
“We ban insider trading,” “We don’t do death markets,” “We aren’t the house,” “We operate under U.S. law,” the ads read.
Building corporate influence in the capital city is a well-used playbook. Prediction markets are a new player, and Kalshi and Polymarket are working to create goodwill with Congress and regulators, who are raising concerns about insider trading and unseemly bets on the platforms.
“There’s been a lot of conflation between the two big prediction markets players,” Kalshi’s head of communications Elisabeth Diana said in an interview. “There are very big key distinctions between the two, and we want to make sure the public — and more importantly policymakers — understand the difference.”
