Prediction market giants take action simultaneously, the battle shifts to perpetual contracts On April 22, Polymarket and Kalshi almost simultaneously announced their entry into perpetual contracts, with products covering crypto, U.S. stocks, and commodities. The timing is no coincidence—Polymarket clearly fired the first shot ahead of Kalshi’s announcement, vying for the first-mover narrative. The two have different approaches: Polymarket leverages its native crypto user base for agile moves, while Kalshi targets institutional advantages with its compliance moat.