Kalshi adds whistleblower service and employment checks to curb insider trading

Kalshi has begun requiring traders in certain sensitive markets to disclose their employers and has introduced a market risk-scoring framework and whistleblower tools as it steps up efforts to curb insider trading and manipulation on its prediction market platform. The company said the measures are effective immediately following recommendations from its independent Surveillance Audit Committee, which was set up in February to oversee market integrity and enforcement. Under the new system, proposed markets are assigned risk scores based on factors including market importance, regulatory compliance, insider trading risk and national security concerns. For markets deemed to carry heightened insider-trading or manipulation risk, traders must disclose their employers before participating so Kalshi can screen out presumptive insiders before trades are placed. Kalshi said it made more than 20 referrals to law enforcement, conducted more than 150 investigations and blocked more than 100 potential insider trades through its screening tools in the first quarter of 2026. The broader compliance push comes as scrutiny of prediction-market abuse intensifies. NPR reported last week that the Department of Justice and the Commodity Futures Trading Commission were investigating former U.S. Rep. George Santos after Kalshi flagged suspicious trades tied to his attendance at President Trump's February State of the Union address, froze his account and notified law enforcement. Rival platform Polymarket has also faced insider-trading cases in recent months, including allegations involving classified information and confidential corporate data. Kalshi and Polymarket remain the two largest prediction-market platforms by volume, with Kalshi recording $16.81 billion in May volume and Polymarket posting $7.08 billion, according to The Block's data dashboard.