On December 9, Kalshi CEO Tarek Mansour stated in a podcast that the competitive relationship with rival Polymarket has driven both companies to work harder on their development.

Mansour compared the competition between the two companies to the rivalry between NFL quarterbacks Tom Brady and Eli Manning, as well as the competition between soccer stars Lionel Messi and Cristiano Ronaldo. He stated: "Without Polymarket, we wouldn't be pushing so hard on marketing and product development. This competition will drive us to scale this industry to heights that would be unattainable otherwise, which is beneficial for customers in the long run."

Kalshi was founded in 2018, and last week the company announced a partnership with CNN and CNBC, completing a $1 billion funding round at a valuation of $11 billion. Its competitor Polymarket was founded in 2020, reaching a valuation of $13.5 billion in November.