If you've ever wondered how Polymarket and Kalshi are different, you're probably not alone. The two prediction market giants are often spoken about in the same breath, and they largely serve the same purpose: allowing people to trade on the probability of real-world events. They've also both exploded in popularity in recent years, partnered with major institutions such as sports leagues,  award shows , and media organizations, and engaged in  attention-grabbing stunts  to build their brands.