Kalshi Adds Employer Disclosure Rule for Higher-Risk Prediction Markets

Kalshi is introducing new compliance checks that require some users to disclose their employers before they can trade in higher-risk prediction markets. The federally regulated exchange said the measures took effect immediately and are aimed at reducing insider trading and market manipulation on its platform.

The change matters because prediction markets increasingly cover events where nonpublic information could be valuable, including elections, economic releases and corporate or political developments. As these markets grow, the integrity of trading activity becomes more important for users, regulators and companies whose real-world actions can affect market outcomes.

Kalshi said the new policy follows recommendations from an independent Surveillance Audit Committee that reviewed its enforcement systems, monitoring tools and trading controls. For markets with elevated insider or manipulation risk, the company said it will collect employment information before allowing traders to participate, with the goal of identifying people who may have access to material nonpublic information tied to an event.

The platform also announced a risk-scoring system for markets, using factors such as insider-trading risk, market importance, regulatory concerns and national-security implications. Markets deemed more vulnerable to manipulation could face tighter controls or be rejected from listing, while new whistleblower tools will let users report suspicious activity from individual markets.

Kalshi said it blocked more than 100 potential insider trades in the first quarter using new screening tools, opened more than 150 investigations, referred more than 20 cases to law enforcement and issued five disciplinary actions. CoinDesk noted that the company did not provide details on those cases and that the figures could not be independently verified.