Headline : U.S. Election Betting: Kalshis Polymarket Rival Quickly Gets Traction

Read more from the original article on here at www.coindesk.com.

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This U.S. election cycle will be over in two weeks. For some, it will be a sigh of relief. But prediction market platforms are having the time of their lives.

Kalshi, which only launched election prediction market contracts in October after a favorable court ruling against the Commodity Futures Trading Commission, recently passed $30 million in trading volume on its main election contract. It still trails Polymarket, which did about $40 million from early January to early February, its first month of presidential betting, and recently passed $2 billion. But as a regulated platform, Kalshi had to sit on the sidelines until it won in court.

The market gives Republican nominee Donald Trump a 14 percentage point lead over his Democratic rival Kamala Harris. These odds must come solely from U.S. nationals (and permanent residents), because Kalshi's terms and conditions prohibit foreign nationals from trading on the platform.

By contrast, the industry leader Polymarket prohibits U.S traders from the platform but does not require a know-your-customer process to validate who is who. Polymarket's bets are denominated in cryptocurrency, whereas Kalshi's are settled in regular dollars.

Read more from the original article on here at www.coindesk.com.

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