Kalshi · kalshi.com · Direct substitute: same buyer (retail event traders), same product category (binary outcome contracts on real-world events), same US regulatory battleground (DCM status), and named as Polymarket's main competitor in independent funding coverage; Polymarket...[4]

MetaDAO · metadao.fi · Same product mechanic (binary outcome token trading on a blockchain) and same trader audience; MetaDAO explicitly positions against Polymarket by name and its news feed is populated by Polymarket market data.[15]

Ultramarkets · ultramarkets.xyz · Same trader workflow (speculative event trading) and directly parasitic on Polymarket's liquidity — competes for the same active trader's capital allocation and risk appetite, while also serving as a derivative layer on Polymarket's own markets.[14]

Kalshinomics · kalshinomics.com · Same buyer (prediction market traders and researchers) and same data substrate (Polymarket and Kalshi market prices); competes for the analytical workflow that Polymarket could own natively, and explicitly surfaces Polymarket and Kalshi data side by side.[16]

The customer proof is company-sourced only. No independent source in this ledger confirms it.[32]

Ask for one referenceable production customer.

Not a recommendation. The first thing this ledger cannot answer.

Filled in the side panel for invited readers. This card carries sourced facts only.