Polymarket and Kalshi see massive drop in users—but big opportunities ahead

One of the biggest stories of the last U.S. presidential election was the uncanny ability of prediction markets Polymarket and Kalshi to forecast the outcome. By early November, the companies had become household names, and soon after venture capitalists invested hundreds of millions of dollars in the hopes that prediction markets would grow into major businesses. But will they? Fortune reviewed download data and other metrics to gauge the popularity of Polymarket and Kalshi, and found a huge...