Kalshi referred 32 cases of suspected insider trading to the Commodity Futures Trading Commission during the three months ending in June, highlighting the prediction market platform’s growing focus on market surveillance.
The CFTC-registered exchange opened more than 200 investigations during the first half of 2026. The reviews examined trading activity that may have involved material non-public information.
Kalshi uses internal monitoring systems, third-party vendor tools, trading-pattern analysis, and open-source intelligence to identify potentially improper activity. The platform can freeze accounts while investigations are underway and refer suspicious cases to federal regulators.
The exchange has previously imposed penalties for misconduct. In one 2025 case, a political candidate received a $2,246.36 fine and a five-year trading suspension for betting on their own race. Another trader was fined $20,397.58 and suspended for two years over activity involving a contract linked to YouTube.
Kalshi is also planning additional disclosure requirements for markets considered particularly vulnerable to insider information. Under the proposal, users participating in certain high-risk markets would be required to disclose their employers.
