Kalshi Denies Perpetuals Volume Fabrication, Says Chart Was Prediction Market Share

The dispute matters less as a volume argument than as a framing fight: Kalshi's defense rests on the claim that its notional methodology is directly comparable to Polymarket's, which is the real basis for any share comparison between the two. The self-clearing point is the more consequential disclosure, since it pushes back on the idea that the venue's structure is closed or discretionary. Whether that comparability holds up under outside scrutiny, and how Polymarket responds, is the open question.