I believe Polymarket isn’t licensed, but this one is.
Polymarket has good reputation and not just about license. I understand that scammers can easily get a site and have their own gambling products and services to scam people but Polymarket is not like that. Also no site is dominating Polymarket as of now in the prediction market. They get good reputation from their past services.
unless the new platform has some crazy or unique feature that polymarket doesn’t have i doubt it will replace polymarket because polymarket is already very famous and well known and it’s hard to take down a platform that’s associated with betting on outrageous evente
Kalshi's biggest advantage is the license to operate in the United States market, and that's a big advantage
The North American market is very large, there is a lot of money and demand for betting
Offering the service legally, without users having to use VPNs and without risk, is already the biggest advantage they have for this market.
For the rest of the world, I doubt they'll change Polymarket as there's no reason to, and they'll probably need to do KYC, so at least from everything I've understood, they're a US-based company.