WSJ: CFTC probes Kalshi's ETH perpetual futures over wash trading concerns
- —Nearly 1 million trades occurred in a single Kalshi market since August, a third around $5,500
- —Monthly volume in Kalshi's ETH perpetuals exceeded $5 billion
- —The CFTC is reviewing data before deciding whether to open a formal enforcement probe
- —Kalshi denies wash trading, citing payments to market makers for liquidity
Why it matters: The review could damage Kalshi's reputation and set standards for perpetuals on US prediction markets.
Source: CoinDesk Japan