Data doesn't lie. Currently, Polymarket is the only true prediction market. Looking at weekly trading volume distribution, sports, politics, and crypto-related events account for 35.4%, 25.3%, and 23.2% of Polymarket's trading volume, respectively. The current OI distribution also shows sports, politics, and crypto as three equally important sectors. Kalshi, as the strongest competitor, relies entirely on sports. It's more accurate to describe it as regulatory arbitrage for betting platforms than a true prediction market.