Kalshi

Kalshi is a CFTC-regulated prediction market platform where users trade on real-world events across politics, sports, economics, and weather. The platform is praised for its clean UI, professional infrastructure, and regulatory legitimacy, positioning it as a serious alternative to Polymarket—though critics note it functions more as a gambling app and operates with significant barriers including mandatory KYC, geographic restrictions, and thin liquidity outside major markets. Controversy surrounds the platform's handling of contract modifications (notably an Iran Supreme Leader market), paid influencer campaigns against competitors, and a perceived focus on fighting Polymarket rather than improving its own product, raising concerns about ethics and user trust despite strong VC backing and mainstream adoption.