Prediction markets operator Kalshi denied wash trading allegations and attributed nearly $5 billion in Ether perpetual trades to its liquidity incentive programs. The Wall Street Journal reported that the CFTC was examining a pattern of rapid trades clustered around $5,500 each. Kalshi stated it has not been contacted by the regulator and does not believe any formal examination is underway. The company launched its perpetual futures markets in May and reported trading volume surpassed $1 billion within a week of launch.
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