Prediction market operator Kalshi announced new compliance measures to address insider trading concerns, effective immediately. Users must disclose their employers before trading markets flagged as high-risk, such as those tied to corporate performance, national security, or geopolitical events like the Iran war. The exchange also introduced a risk-scoring framework evaluating six factors including corporate KPIs, outcome concentration, and national security risk to identify problematic markets before listing. Kalshi confirmed it has opened over 150 investigations this year, blocked over 100 potential insider trades, referred more than 20 cases to law enforcement, and taken five disciplinary actions. The moves follow a string of insider trading cases and congressional probes in the prediction market sector. Industry observers note that while employer disclosure is a useful filter, it has limitations as it relies on self-reporting and may not capture information flowing through non-employee channels. The broader risk is overreach, potentially restricting legitimate expertise-based trading. Kalshi also expanded whistleblower tools and maintains an independent Surveillance Audit Committee.

Key facts

• Kalshi requires employer disclosure for high-risk markets like corporate performance and national security.
• Exchange opened over 150 investigations and blocked over 100 potential insider trades in 2026.
• New risk-scoring framework evaluates six factors before listing markets.
• Industry experts warn disclosure is limited and may restrict legitimate trades.
• Kalshi expanded whistleblower tools and refers cases to law enforcement.
• Platform fined and suspended three political candidates for trading on their own elections.

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