Kalshi Boosts Surveillance Ahead of Super Bowl

Kalshi says it’s expanding surveillance on its prediction markets platform with an independent advisory committee and partnerships to catch insider trading and market manipulation just days ahead of the Super Bowl.

Kalshi said on Thursday that the committee would give a quarterly rundown to the company’s outside counsel and publish statistics on investigations into suspicious activity on the platform. 

It is also teaming up with crypto trading surveillance platform Solidus Labs and the director of Wharton Forensic Analytics Lab, Daniel Taylor, “to detect, investigate, and address market abuse.”

The move comes three days before Super Bowl 60, one of the biggest sporting events in the US, which has already seen more than $168 million worth of bets placed on Kalshi.

Regulators and Congress are also closely scrutinizing prediction markets, with federal lawmakers introducing a bill last month to restrict trading by government insiders after a Polymarket user made thousands on bets tied to Venezuelan President Nicolás Maduro, placing wagers days before US forces captured him in Caracas.

Kalshi is also among a handful of prediction markets that have been targeted by US state regulators, who claim sports event contracts are illegal gambling, which Kalshi and other companies have rebuffed.