Kalshi is turning to its growing community to help the prediction market flag insider trading.
The $22 billion company issued several key steps on Tuesday to better monitor and block users who breach Kalshi’s terms and conditions.
In a post, Kalshi shared a new “report insider trading” button that appears under relevant markets.
To be sure, the whistleblowing functionality is just one component of a larger push from Kalshi to better police its platform.
The company said it had launched tools to preemptively block political candidates from betting on the outcome of their campaigns. Likewise, athletes and referees will be blocked from betting on event outcomes tied to the leagues they play in or arbitrate.
“No screening system is perfect, and bad actors will always try to cheat,” Kalshi CEO Tarek Mansour said on Tuesday. “We added a whistleblower functionality in our market page to make it easier for traders to flag potential violations.”
The new tools come amid mounting pressure from lawmakers in Washington.
On Monday, Democratic Senator Adam Schiff introduced his second bill on prediction markets.
The Prediction Markets Are Gambling Act would prohibit prediction markets from listing event contracts for sports betting-related markets. Republican Senator John Curtis also co-sponsored the bill.
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