Merlin vs Shadow Markets
Merlin and Shadow Markets are both filed under Copy Trading and Sports Trading and 1 more. Both are trading platforms, and both are free. Below: the facts side by side, where the two actually differ, and when each one is the better pick.
Trader analytics and copy trading for Polymarket.
Compared with Shadow Markets
Copy-trading platform for prediction markets across Polymarket and Kalshi.
Compared with MerlinAt a glance
| Fact | Merlin | Shadow Markets |
|---|---|---|
| Type | Trading platform | Trading platform |
| Category | Copy Trading | Copy Trading |
| Also listed in | Telegram, Sports Trading, Politics & Elections, Crypto Markets | Sports Trading, Politics & Elections |
| Pricing | Free | Free |
| Price | free · min stake per trade | free · beta |
| Risk rating | Medium risk | Medium risk |
| Markets | Politics, Sports, Crypto and 1 more | Polymarket, Kalshi, Politics and 1 more |
| Source | Source not published | Source not published |
| Runs in Telegram | Yes | No |
| Listed since | Jul 3, 2026 | Jul 3, 2026 |
Highlighted rows differ
Key differences
- Both list Politics and Sports; Merlin adds Crypto and All Polymarket markets; Shadow Markets adds Polymarket and Kalshi.
- Merlin runs inside Telegram; Shadow Markets does not.
- Only Merlin is filed under Telegram and Crypto Markets.
Choose Merlin if…
- you want it inside Telegram
- you trade Crypto and All Polymarket markets
- your focus is Telegram and Crypto Markets
Choose Shadow Markets if…
- you trade Polymarket and Kalshi
What Merlin does
Trader analytics and copy trading for Polymarket. Ranks top traders on public on-chain performance — P&L, win rate, ROI and volume — with specialization profiles by sector, then lets you mirror them through a Telegram bot. Merlin never custodies funds; trades execute on Polymarket.
Features- Leaderboards ranked by P&L, win rate, ROI and volume
- Trader specialization profiles by sector
- Copy trading via Telegram bot
- Public on-chain performance data
- Non-custodial — trades run on Polymarket
- Reconstructs each trader's performance from public on-chain data.
- Ranks and profiles traders by sector and risk-adjusted return.
- Lets you mirror top performers through a Telegram bot.
What Shadow Markets does
Copy-trading platform for prediction markets across Polymarket and Kalshi. Deposit funds, pick top traders by win rate, profit and volume, and the system mirrors their trades proportionally — with portfolio, P&L and redemption tracking built in. Free and in early beta.
Features- Copy top prediction-market traders automatically
- Rank traders by win rate, profit, trades and volume
- Proportional trade replication
- Built-in portfolio, P&L and redemption tracking
- Integrates Polymarket and Kalshi
- Ranks traders across Polymarket and Kalshi on real performance metrics.
- Mirrors your chosen traders' trades proportionally to your deposit.
- Tracks portfolio value, P&L and redemptions in one place.
More head-to-heads
Every fact on this page is taken from the two listings as their authors publish them; POLBOTS verifies neither performance nor claims and has no stake in either tool. Nothing here is financial advice.