Polymarket and Kalshi are Mafias. They run betting rackets, and they openly and proudly sponsor hitman contracts and mercenary wars.
Now they’re dividing up the economy in the same way that competing old-fashioned gangs divided up a city.
Betting Mafias are different from the VC crime that has destroyed the country since 1980. Private equity is piracy, not Mafia. VC buys a company with some actual money and some debts incurred by the company; then drives the company into bankruptcy to cancel the debts; then sells the remaining assets.
Betting Mafias don’t spend money to buy companies, they just make “arrangements” to dominate the company’s activity with betting. The front room continues operating normally while the back room is filled with slot machines.
Recent headlines: Polymarket took over Substack. Kalshi took over Fox. Several states are suing or banning Kalshi, which means they’re “arranged” by Polymarket.
If states were serious they’d ban ALL gambling, not just one of the two competing brands.
At the moment it appears that Polymarket is “arranging” Democrat-labeled companies and governments, while Kalshi is “arranging” Repooflican labels. Not enough data to firm up this correlation.
Polistra's Mill 