Klashi has to be faking their volume their just introduced new fees on parlays yet parlay volume went UP at the same time this is extremely sus when you increase fees you expect to see volume go DOWN as price sensitive whales get cold feets Yet for Kalshi we observe the exact opposite Until August 20th: - $1.56M avg. daily parlay fees - $508M avg. daily parlay volume After August 20th (maker fee introduced): - $2.8M avg. daily parlay fees (+79%) - $1.0B avg. daily parlay volume (+97%) One possible explanation is that Kalshi in-house Market Makers are wash trading using their fee exemption If you take a look at their market maker agreement you can find the following line : "The benefits can include monetary benefits, such as discounts on fees, rebates on fees, revenue share from fees, and other monetary benefits." how hard would it be for internal market makers that pay no fees to wash trade a bunch of volume in exchange for "monetary benefits" ? It sure would be very useful for a company looking to IPO whose main value metric is volume remember that next time you see a chart showing Kalshi doing 10x more "volume" than @Polymarket One is verifiable onchain and the other is not.

you're doing marketing because you failed at product at the end of the day, it was always about the community

Honest post: the Polymarket DeFi CLOB is full of tech debt. It grew fast, got hacked together, and most of the team inherited it that way. Since joining and building out the team, we have scaled it 10x and made it 3x faster, but it’s not enough; the core foundations of how it’s been built are wrong in almost every way. You try to fix one thing, and another thing goes wrong; the conclusion now is that the codebase can’t be saved long-term. The exchange is the heart of Polymarket; everything runs through it. If we want to be the best exchange in the world, it must be fast, stable, and scalable. We can’t keep patching the old one, where these core foundations are generally missing throughout, so we’re rewriting it from scratch in Rust. Early numbers: 10-20x faster on p99 than today, 200,000 orders per second (15x what we have now, with room to reach 400,000+), and stability under load. This will put us faster than most exchanges, including CEXs. Building it in Rust gives us memory safety with no garbage collector. No GC means no random pauses and no random latency spikes; the tail latency in the benchmarks is the tail latency you get in production, alongside a strict compiler that enforces correctness up front. Data races and memory corruption (the bugs that take exchanges down) can’t exist in the first place. Polymarket has to take it seriously that we are an exchange; this is people’s money, not a joke. To succeed, we have to fix this; otherwise, we will fail. It’s as simple as that. I joined to build the best software in the world, not to maintain some of the worst, and I will do everything I can to make Polymarket a serious exchange. We are aiming to have the exchange ready sometime in Q4 (mid to end). I'll communicate progress as we go so you all know the status. Breaking changes will be minimal for all integrators and will be communicated in advance. We will maintain the existing CLOB and keep trying to improve it as we build this side by side. We can’t wait to throw away the existing CLOB; we dislike it as much as you all do. Make Polymarket fast, finally.

Is Polymarket dying ? No, but polymarket(.)com might be I see a lot of KOLs coomenting this chart as "the death of Polymarket" but it's missing the US app volume In reality what it shows is the death of Polymarket international, eaten alive by Polymarket US. Polymarket US was open to the public in April 2026. That's right at the point where Kalshi and Polymarket start to dissociate on the chart. During this period Polymarket US has grown ~59% per month on average and is already set to overtake Polymarket international in volume in August. If you take the same graph and add Polymarket US volume + consider it's rate of growth, @Kalshi isn't that out of reach for @polymarket