Kalshi Says It Is Not Under CFTC Investigation Over Ether Trading Activity
The prediction market attributed unusual patterns in its ether perpetual market to liquidity incentive programs and denied wash trading allegations.
AfroEuropa Newsroom
AfroEuropa desk
Prediction market operator Kalshi has said it is not the subject of an investigation by the Commodity Futures Trading Commission (CFTC) tied to activity in its ether perpetual market, according to reporting by CoinDesk.
The company said unusual patterns observed in that market resulted from its liquidity incentive programs, CoinDesk reported. Cointelegraph reported that Kalshi described nearly $5 billion in similarly sized ether perpetual trades as a reflection of those incentive programs, and rejected claims that the activity amounted to wash trading. According to Cointelegraph, Kalshi said the CFTC had not contacted it regarding the trades.
Kalshi is also involved in a separate legal matter. Cointelegraph reported that US lawmakers from states with gaming industries have urged the Supreme Court to take up a case between New Jersey authorities and the prediction market company. If the court accepts the case, it could provide clarity for state and federal officials on the treatment of sports bets, according to Cointelegraph.
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