Per Woofun AI, Kalshi CEO Tarek Mansour disclosed that traditional financial giants and sports betting operators, specifically CME Group, Robinhood, and DraftKings, represent a more significant competitive threat than Polymarket. Bank of America analysts indicate Kalshi controls approximately 91% of the regulated prediction market share in the U.S., holding roughly $1 billion of the industry's $1.6 billion in open contracts and listing about 97% of active markets. Over the past 30 days, Kalshi recorded trading volume of approximately $9.8 billion, nearly matching Polymarket's $9.9 billion.

Meanwhile, institutional expansion continues as CME launched FanDuel Predicts in partnership with FanDuel last December, and Robinhood began migrating contracts to its Rothera platform following a 2025 collaboration with Susquehanna. Mansour advocated for integrating Polymarket into a regulatory framework, arguing that insider trading on its offshore platform damages industry integrity.

Concurrently, the CFTC released a 267-page rule proposal on June 10, permitting most sports contracts while banning in-game and college pre-game betting, with a 45-day public comment period.