Kalshi Denies Wash-Trading Allegations Regarding Ether Perpetual Futures

Kalshi has refuted claims that its crypto perpetual futures volume is inflated by market makers. The allegations arose after an analyst noted that trades of exactly $5,500 accounted for a significant portion of ether perpetual volume between September 16 and September 20, suggesting a high turnover ratio relative to open interest. Kalshi representatives rejected these claims, stating that volume is calculated based on the maximum payout of contracts rather than cash spent, and clarified that the data cited by the analyst was misinterpreted.