Kalshi says it is not being investigated by the CFTC over trading activity

“We have not been contacted by the CFTC and don't believe there is any formal examination,” Kalshi spokesperson Elisabeth Diana said in a statement. “As we’ve said, these data patterns are typical of liquidity incentive programs and common in financial markets.”

CoinDesk reported early Tuesday that a majority of trading volume on Kalshi’s bitcoin and ether perpetual markets was composed of identically-sized trades, with many ether perp trades clustered around $5,500 and bitcoin perp trades around $2,500 or $5.000.

The Wall Street Journal reported similar data later Tuesday and added that the CFTC was examining trading activity on Kalshi after nearly one million trades in an ether market were placed in similar amounts. The regulator was reviewing the data before deciding whether to open an enforcement investigation, according to the report.