Wash-Trading Questions Hit Kalshi After $539M Crypto Volume vs $3.1M Open Interest
Tom Rudovsky · Reported by Bloomingbit
Sentiment
Negative
Importance
7
Price
0
Mkt Cap
0
52W Low
0
52W High
0
52W Position
Off High
Rel. Volume
Market data snapshot near publication time
Summary
A former quant trader questioned Kalshi's crypto volume after its ETH-PERP contract posted $539M in 24-hour turnover against just $3.1M open interest, suggesting possible wash trading. Kalshi's head of crypto pushed back, attributing the discrepancy to market structure and denying rebates in prediction markets. The allegations add to a string of regulatory and legal challenges for the platform, including CFTC actions and state lawsuits. The trader claims to have additional non-public information and will disclose more after legal review.
This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Bloomingbit.