The prediction market platform will soon collect personal information from users.
Infamous prediction market platform Kalshi is taking steps to avoid insider trading by collecting personal data from users. Namely, the platform will ask users about their professions and work.
This will apply to any markets “with heightened insider or manipulation risk,” pointing to the example of a possible trade regarding which AI firm will go public first, Anthropic or OpenAI.
By collecting information from users about where they work, Kalshi confirmed it will “identify presumptive insiders… and screen them out before a trade is ever placed”.
By using a scoring method to identify markets more at risk, Kalshi confirmed it will look to mitigate the danger of insider trading or market manipulation.
“By running an assessment on the national security risk a market might present before we list it, we can better prevent dangerous events from having a negative effect on our markets – or vice versa”, the company said.
This comes as prediction markets are under particular scrutiny with speculation around insider trading on the platforms growing. A Google worker recently charged with using similar prediction market platform Polymarket to make trades based on information allegedly accessed through his work at the tech firm.
Former Congressman George Santos is also under investigation for alleged insider trading using the Kalshi platform.
Kalshi and Polymarket are two of the leading prediction market platforms, and have rapidly built multibillion-dollar businesses based on betting on future outcomes since going live in 2021 and 2020, respectively.
Their combined monthly trading volume is said to have reached $24bn in April 2026 – a huge jump from the under $5bn last September, research shows.
Kalshi confirmed that it has investigated 150 transactions and referred over 20 to law enforcement in the first quarter of this year, to be assessed for any signs of illegal trading activity.
