Kalshi to require employment details from traders in high-risk prediction markets to combat insider trading
By
Ken Sweet
The bagel they save for the regulars. Don't skim, savour.
Summary
Prediction market platform Kalshi announced it will begin collecting employment information from customers trading in certain high-risk markets to combat insider trading. This follows multiple incidents where traders used inside information to profit on platforms like Kalshi and Polymarket, including a recent investigation into former Congressman George Santos for allegedly betting against his own attendance at the State of the Union address, and a U.S. Army soldier charged with using classified information to make $400,000 on Polymarket. Kalshi will now score markets for insider trading risk and require employment details for high-risk trades.
Key quotes
· 3 pulledThe prediction market platform Kalshi will start collecting customer employment information for trading in certain markets that are at heightened risk of insider trading, the company said.
The Tuesday announcement follows several incidents where traders have used inside information to profit on prediction market platforms like Kalshi and Polymarket.
Just last week, it was disclosed that former Congressman George Santos was under investigation for allegedly illegally betting he wouldn't attend President Donald Trump's State of the Union address.
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