Exclusive | Polymarket believes archrival Kalshi could be spying on its NYC offices, employees: Too many coincidences

Polymarket — the fast-growing prediction-markets app that has allowed users to wager on everything from sports to the weather to the Iran war — is scrambling to get to the bottom of what it believes could be a case of corporate espionage by its archrival Kalshi, The Post has learned.The New York-based betting platform — headed by 27-year-old, shaggy-haired CEO Shayne Coplan — has amassed a working dossier that it has dubbed “copycat” that has detailed roughly a dozen of eyebrow-raising incidents and data points — including examples where Kalshi apparently launched products that were strikingly similar to Polymarket’s and with suspicious timing, the sources said.“There have been a couple too many coincidences,” Polymarket’s head of marketing, Matthew Modabber, told The Post, confirming the probe in a brief phone interview.“There is bad intention in how they copy us.

They’re breathing down our neck.”The executive declined to elaborate, but sources close to the situation said one possibility being considered is that there is one or more moles in Polymarket’s offices.And in one instance, according to an insider, an even more bizarre circumstance is getting scrutiny.Specifically, some Polymarket employees raised concerns in recent months that Paradigm, a venture-capital firm that backs Kalshi, could be spying on its offices in lower Manhattan.

That’s because Paradigm rents out offices in the trendy Soho neighborhood that are located directly across the street from Polymarket’s.In addition to views of fashion outlets and the swanky Balthazar cafe on the street below, Paradigm’s offices command a view of some parts of Polymarket’s offices — and potentially its workers’ computer screens, the sources said.Accordingly, Polymarket’s Soho office this spring had some of its windows tinted, according to the sources. “We got together and discussed, like, ‘Is this possible?’” said one Polymarket insider, referring to concerns t...