Kalshi Requires Users to Disclose Employers on High-Risk Markets to Block Presumptive Insider Trades

Kalshi will require users to disclose their employers when they attempt to place bets on markets the platform deems at heightened risk of insider trading or manipulation. The rule took effect Tuesday. Kalshi said it will apply a risk-scoring method to flag such markets and will run a separate national-security assessment on each proposed contract before listing it.

An example cited by the company is a market on whether OpenAI or Anthropic will go public first. Once an employer is identified, Kalshi will use the information to screen out presumptive insiders before any trade is executed. The platform said the step is intended to stop trades that could benefit from non-public information.

In the first quarter of 2026 Kalshi opened more than 150 of its own investigations into possibly illegal trading activity and referred more than 20 cases to law enforcement. Earlier this year the company found candidates for Congress from Minnesota, Texas and Virginia who had placed bets on their own races.

Former Congressman George Santos is under investigation for alleged insider trading on Kalshi, according to NPR.

Last month a Google employee was charged with using company information to bet on Polymarket, a rival platform. S. special forces soldier allegedly placed successful bets on Kalshi regarding the removal of Venezuelan President Nicolás Maduro and has pleaded not guilty.

-Israel conflict with Iran. Prediction markets such as Kalshi are regulated as trading platforms and may operate in all 50 states.