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In an effort to keep pace with top industry competitor Kalshi, prediction market platform Polymarket has announced its intention to add multi-leg contracts to its platform.
It calls these contracts, “Combinatoric Athletic Outcome Contracts,” or COACs, in its filing with the Commodity Futures Trading Commission (CFTC).
These parlay-style contracts would allow Polymarket users to place multi-leg wagers on sporting events, serving as a competitive equivalent to Kalshi’s “Combos” and sports betting parlays.
No limit on ‘legs’
Kalshi was ahead of Polymarket on these contracts, rolling out its Combos last December. Prediction markets have exploded in recent months, and Polymarket’s CAOCs will likely only grow that marketplace.
Polymarket said CAOCs would have no position limits, meaning no cap on the number of contracts a trader could hold, but they would carry a maximum $25,000 threshold.
Specific individuals will be barred from trading COACs, including current and former athletes and coaches, immediate family members of athletes and coaches, and team staff and event employees.
Trump weighs in
While the CFTC maintains that prediction markets operate as legitimate derivative swaps, critics are steadfast in their opinion that they are simply another form of gambling.
Just this week, President Donald Trump – whose sons are heavily involved in both Kalshi and Polymarket – labeled state officials seeking to wrest prediction market regulatory authority away from the CFTC as “Scum.”
It’s a heartening development for the CFTC, which has been fighting state and federal attempts to remove its oversight over the platforms.
