Kalshi Faces Volume Scrutiny as Platform Denies Formal CFTC Investigation

Prediction market Kalshi is under scrutiny after analysis revealed that a significant portion of its ETH perpetual futures volume consists of repetitive, fixed-size trades. CoinDesk reported that 57% of sampled ETH perpetual volume involved trades of approximately $5,499. Kalshi attributed this pattern to market-making activity rather than wash trading and stated that its systems block self-trading. While the CFTC has reviewed the platform's activity, Kalshi denies being under any formal investigation.