Kalshi rejected claims that trading in its ETH Perpetual amounted to wash trading, saying the disputed transactions reflected genuine disagreements over fair value between liquidity providers and faster takers. The exchange said self-trades are mechanically blocked, partner wash trading is prohibited and monitored, and it has seen no evidence of collusion. Kalshi described market-maker programs that pay flat fees for maintaining specified bid-and-ask liquidity, alongside a temporary July rebate matching trading fees for eligible Perpetuals Self-Clearing Members. It said the programs do not reward volume and that an earlier-reported June schedule showing positive maker fees and no rebates was later supplemented by the July filing and rebate program. Kalshi also said its Perpetuals platform had more than 350,000 lifetime traders, with open interest doubling in 30 days.