Exchanges· ★★★· neutral·

Kalshi and Polymarket trading volumes draw scrutiny amid rapid growth

  • —Nearly half of Kalshi's ether perpetual volume on Sept. 20 came from trades of $5,495–$5,505
  • —Polymarket's international exchange shows higher volume on low-odds contracts
  • —Kalshi and Polymarket deny wash trading and inorganic activity
  • —WSJ: CFTC is examining trades on Kalshi's ether perpetual futures
Why it matters: The volumes underpin Kalshi's $40 billion and Polymarket's $20 billion-plus valuations ahead of possible IPOs, putting their accuracy in the spotlight.
#ETH
Source: CNBC Crypto
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