By SectorWire desk · · Updated
Kalshi faces scrutiny over its crypto-perpetual trading volumes. A quantitative analyst flagged Ethereum turnover of $539m over 24 hours against open interest of $3.1m, raising questions about how prediction markets calculate trading activity.
The disparity between Ethereum turnover and open interest raises questions for investors assessing Kalshi’s reported trading activity.
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Prediction market providers face scrutiny as Missouri’s attorney general seeks sportsbook taxation and regulation for sports prediction markets.
The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
The findings bear on state challenges to Kalshi and Polymarket's position that their contracts fall exclusively under CFTC jurisdiction.
The analysis questions Kalshi’s explanation for concentrated activity in its ether perpetual contracts.
The new contracts allow partial settlement rather than requiring players to reach the full statistical target.
The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.