Kalshi may have tarnished its regulatory halo by slinging mud at a competitor.
Late Friday, Pirate Wires, a technology and culture publication owned by Founders Fund marketing executive Mike Solana, published a bombshell of a story. It documented how Kalshi, the U.S.-regulated prediction market, paid social media influencers to disparage crypto-based, offshore rival Polymarket and its CEO Shayne Coplan after the FBI raided Coplan’s home this month.
Solana (no relation to the $120 billion cryptocurrency) disclosed up-front he had reasons to be biased and report what Kalshi allegedly did: Founder’s Fund is an investor in Polymarket, and Pirate Wires has a paid partnership with Polymarket for ads, among other things.
Nevertheless, Solana wrote, “receipts are receipts,” and the screenshots in the Pirate Wires article paint a damning picture.
One screenshot showed Kalshi employees asking former NFL wide receiver A
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Author: Sam Reynolds, Marc Hochstein
