Kalshi, a U.S.-regulated prediction market, is accused of paying social media influencers to disparage its competitor, Polymarket, and its CEO Shayne Coplan following an FBI raid on Coplan's home. Screenshots published by Pirate Wires, a publication owned by Founders Fund marketing executive Mike Solana, show Kalshi employees asking influencers to make negative comments about Coplan. The move has tarnished Kalshi's regulatory reputation, with accusations of moral hypocrisy. In response, there have been claims that Kalshi is under investigation by multiple agencies, including the U.S. Federal Trade Commission, although no official confirmation has been provided. Polymarket has denied any involvement in the smear campaign. The incident occurs at a fortuitous time for prediction markets, as the incoming Biden administration is seen as potentially creating a more favorable regulatory environment for the industry.



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