Kalshi, a U.S.-regulated prediction market, tarnished its reputation by reportedly paying influencers to disparage its competitor Polymarket. The allegations surfaced in Pirate Wires, revealing Kalshi's involvement in a smear campaign against Polymarket's founder, Shayne Coplan. The article included screenshots showing Kalshi's employees soliciting comments from influencers, including former NFL player Antonio Brown, who compared Coplan to FTX's Sam Bankman-Fried. Meanwhile, another party launched a retaliatory smear campaign against Kalshi, suggesting investigations by agencies like the FTC, which denied any involvement. This conflict occurs amidst a time of optimism for prediction markets, particularly with Donald Trump's anticipated administration, which may offer a friendlier regulatory climate for such platforms. Kalshi had previously battled regulatory scrutiny, reflecting the broader cutthroat dynamics of the tech industry, where smear tactics are not uncommon.

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