Kalshi Denies CFTC Investigation Over Trading Activity

CFTC investigation — Prediction market platform Kalshi has stated it is not under investigation by the U.S. Commodity Futures Trading Commission (CFTC) regarding trading activity on its platform, contradicting a recent media report.

The company’s spokesperson, Elisabeth Diana, said in a statement that “We have not been contacted by the CFTC and don’t believe there is any formal examination.” This follows a Wall Street Journal report on Tuesday which indicated the CFTC was reviewing trades on Kalshi to determine if an enforcement investigation was warranted.

Questions about unusual trading patterns emerged after nearly one million trades in an ether perpetual market on Kalshi were placed in similar amounts. Kalshi attributes these patterns to its liquidity incentive program, which is designed to encourage market participation.

The CFTC declined to confirm whether any investigation was underway. Kalshi’s statement represents a direct pushback against the narrative of active regulatory scrutiny, a common concern for crypto-adjacent trading platforms operating under U.S. oversight.