Polymarket, once a leader in prediction markets, is now trailing behind its competitor Kalshi due to operational delays and product missteps. The platform has struggled with setbacks in reaching U.S. customers, resulting in a significant market share loss. Kalshi, valued at $22 billion, has surpassed Polymarket's $15 billion valuation, capturing nearly 90% of the U.S. market. Recent issues include delays in migrating to CLOB V2 and the introduction of a new collateral token, which were postponed due to insufficient preparation time. Communication mishaps and extended maintenance outages have further compounded Polymarket's challenges. Despite these setbacks, Polymarket announced the launch of perpetual contracts, raising concerns about prioritizing revenue over platform stability. The community urges Polymarket to focus on stabilizing its core platform and fully launching its U.S. app before expanding product offerings. With strong partnerships and a dedicated user base, Polymarket still has the potential to regain its leadership position if it addresses these operational issues promptly.