1. Legal compliance and US market access Poly Market, built on the blockchain (Polygon), was fined $1.4 million by the CFTC in 2022 and banned from providing services to U.S. users, relying only on VPNs and overseas users, limiting its growth in the U.S.Kalshi, by contrast, is a “designated contract market” (DCM) fully regulated by the CFTC. It sued the CFTC in 2023 for expanding categories (politics, sports, etc.) and won the case, getting a legal moat that can be traded in US dollars (no cr...

1. Legal compliance and US market access Poly Market, built on the blockchain (Polygon), was fined $1.4 million by the CFTC in 2022 and banned from providing services to U.S. users, relying only on VPNs and overseas users, limiting its growth in the U.S.Kalshi, by contrast, is a “designated contract market” (DCM) fully regulated by the CFTC. It sued the CFTC in 2023 for expanding categories (politics, sports, etc.) and won the case, getting a legal moat that can be traded in US dollars (no cr...