Prediction market platforms Polymarket and Kalshi are conducting high-profile grocery giveaways in New York City as state lawmakers debate legislation that could severely restrict their operations. The initiatives are unfolding against the political backdrop of Mayor Zohran Mamdani's affordability agenda, which includes a proposal for city-run, non-profit grocery stores.
Polymarket announced it has signed a lease for a temporary pop-up dubbed "New York's first free grocery store," set to open on February 12. The company also disclosed a $1 million donation to the Food Bank For New York City. In a social media post, Polymarket stated, "After months of planning, we're excited to announce 'The Polymarket' is coming to New York City."
Separately, Kalshi held a shorter "free grocery" event earlier, covering shoppers' bills for a limited period at a Manhattan supermarket. The company claimed, "Thousands have already picked up their free Kalshi groceries!" and suggested the move had "inspired other companies to keep up the initiative."
Neither company stated the initiatives were coordinated with City Hall, but the language closely mirrors Mayor Mamdani's campaign proposal to open publicly owned grocery stores in all five boroughs to lower food prices. Mamdani's plan, which remains at the pilot-concept stage with no finalized timeline, argues that city-owned stores could reduce costs by operating on a non-profit basis and using public property.
Concurrently, New York state lawmakers are advancing proposals that could directly impact platforms like Polymarket and Kalshi. One proposal, often called the ORACLE Act, would restrict or prohibit certain categories of prediction contracts for New York residents and impose tighter limits on event-based markets. Separate legislation would require prediction market operators to obtain state licenses before operating. These measures are driven by concerns that some contracts resemble unregulated gambling or could be vulnerable to manipulation.
By aligning their branding with food affordability and local philanthropy, both platforms appear to be positioning themselves as civic-minded New York companies at a critical juncture when their regulatory future in the state remains uncertain.
