X.com Dumps Kalshi for Polymarket in Musk-Trump Fallout

Polymarket and X.com have teamed up, with the media platform confirming the former as its official prediction market partner. This comes as a surprise, although recent events lessened the shock, after previously X.com and Kalshi, a rival to Polymarket, courted each other and nearly tied a partnership, but no official confirmation ever came.

X.com and Polymarket Tie the Knot after Rumored Kalshi Deal

Originally, Kalshi, whose Board of Directors features Donald Trump Jr., was reportedly willing to team up with Elon Musk’s social media platform. A recent rift between the Trump administration and Musk, though, has caused realignment.

X corrected the record and said: “We’re joining forces with Polymarket as our official prediction market partner.”

Polymarket took up the news quickly and added:“The next information age won’t be driven by the 20th century’s media monoliths — it’ll be driven by markets. Our partnership with X marks a new chapter for truth on the internet. The future of news is optimized for truth, rooted in transparency, and anchored in reality.”

The companies have also released a joint press statement in which they detailed the nature of the partnership, including the development of dedicated products that focus on data-driven insights and recommendations.

The two companies will combine their data to offer live insights and introduce real-time annotations explaining market moves, with the help of Grok, an AI chatbot developed by Musk’s other company, xAI.

Polymarket CEO Shayne Coplan has welcomed the partnership and the involvement of Grok and X’s real-time input, which will enable the company to provide data-driven and contextualized insights to millions of company users.

There has been a lot of speculation concerning the choice of a prediction market partner for X, even before the disagreement in the White House became apparent.

The Whole Thing Was Riddled with Speculation

Although Bloomberg originally reported that X and Kalshi were close to signing a deal, the media had to retract after neither Kalshi nor the social media platform could confirm the deal.

In fact, X.com said that it was indeed looking to team up with a partner in this particular segment but said that there was no single party picked. However, teaming up with Polymarket could create fresh headaches for everyone involved.

Polymarket is not registered with the Commodity Futures Trading Commission, the regulator that makes Kalshi’s operations above board, and users in the United States may not access the platform legally.

This is even more relevant amid the ongoing feud between Musk and Trump, with the latter threatening the entrepreneur that he could “hurt” him.