Prediction platform Kalshi to collect job details to combat insider trading
Summary
Kalshi, a prediction market company, will start collecting users’ job information for certain markets to prevent insider trading. It also introduced new safety steps, including a risk scoring system and a 24/7 whistleblower channel, following concerns about market manipulation.Key Facts
- Kalshi lets people bet on future events like sports, elections, and wars.
- The company will require some users to share job details to identify those with private knowledge.
- Kalshi created a scoring system to measure the risk of market manipulation.
- A 24/7 channel is available for whistleblowers to report suspicious activity.
- These actions follow findings by Kalshi’s Independent Surveillance Audit Committee.
- Several insider trading cases have been linked to Kalshi and its rival Polymarket.
- Kalshi has fined and suspended accounts of political candidates who bet on their own campaigns.
- From January to March, Kalshi started over 150 investigations and blocked more than 100 possible insider trades.
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