{"id":13444,"date":"2026-06-09T22:01:56","date_gmt":"2026-06-09T22:01:56","guid":{"rendered":"https:\/\/siliconvalleymovingpost.com\/?p=13444"},"modified":"2026-06-09T22:01:56","modified_gmt":"2026-06-09T22:01:56","slug":"kalshi-to-collect-employment-info-from-customers-trading-in-some-high-risk-markets","status":"publish","type":"post","link":"https:\/\/siliconvalleymovingpost.com\/?p=13444","title":{"rendered":"Kalshi to collect employment info from customers trading in some high-risk markets"},"content":{"rendered":"
\n

By KEN SWEET<\/strong><\/p>\n

NEW YORK (AP) \u2014 The prediction market platform Kalshi will start collecting customer employment information for trading in certain markets that are at heightened risk of insider trading, the company said.<\/p>\n

Read more Ads in New York must now label AI-generated \u2018synthetic performers\u2019<\/a><\/p>\n

The Tuesday announcement follows several incidents where traders have used inside information to profit on prediction market platforms like Kalshi and Polymarket. Just last week, it was disclosed that former Congressman George Santos was under investigation for allegedly illegally betting he wouldn\u2019t attend President Donald Trump\u2019s State of the Union address after initially saying he would. In April, a U.S. Army soldier was charged with using classified information to make a $400,000 profit trading on Polymarket on the timing of the U.S. military operations in Venezuela earlier this year.<\/p>\n

Kalshi will now assign a score to certain markets that it believes are at a heightened risk of insider trading or market manipulation. In order to trade on those markets that are scored to be a high risk, Kalshi will require its customers to provide employment information. Those who Kalshi identifies as presumptive insider traders will be banned from trading in those markets, the company said.<\/p>\n

\u201cBy implementing these new integrity measures, we continue to lead the industry on the issue of market integrity among federally regulated prediction markets,\u201d said Robert DeNault, head of enforcement at Kalshi, in a statement.<\/p>\n

The employment information collected on users will only be used if suspicious activity is seen on the market in question, the company said.<\/p>\n

Read more Cuba\u2019s top envoy to US calls Trump\u2019s sanctions on Cuban leaders a \u2018pretext\u2019 for military action<\/a><\/p>\n

\u201cThis lets us identify presumptive insiders \u2013 people who have material, nonpublic information about a market\u2019s outcome \u2013 and screen them out before a trade is ever placed,\u201d Kalshi said in a statement.<\/p>\n

Prediction markets have been pushing hard to gain legitimacy among the public and policymakers as a legitimate platform where users can bet on everything from sports to the weather to elections. Kalshi, in particular, has been trying to differentiate itself from its major competitor Polymarket, whose primary operations are outside of U.S. jurisdiction. Kalshi also disclosed that it has made at least 20 referrals to law enforcement or securities regulators for market manipulation or insider trading.<\/p>\n

\n<\/div>\n

Kalshi announced in February that it was creating an Independent Surveillance Audit Committee to help it combat market manipulation and insider trading. The changes announced this week resulted partly from the committee\u2019s work, the company said.<\/p>\n

Read more US urges Europe to step up travel measures to prevent spread of Ebola from Africa<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The reforms come following multiple incidents of prediction market traders using insider information to profit off events.<\/p>\n","protected":false},"author":1,"featured_media":13443,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-13444","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nKalshi to collect employment info from customers trading in some high-risk markets - Silicon Valley Moving Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/siliconvalleymovingpost.com\/?p=13444\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kalshi to collect employment info from customers trading in some high-risk markets - 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