New Kalshi rule may force traders to reveal jobs

Kalshi, one of the largest prediction markets in the United States, said it would soon require some users to disclose their employers as part of a push to curb insider trading.

The platform said in a news release June 9 that it has developed a system to score markets based on insider-trading risk. Users participating in higher-risk markets may be required to provide employment information.

“By implementing these new integrity measures, we continue to lead the industry on the issue of market integrity amongst federally regulated prediction markets,” Robert DeNault, Kalshi’s head of enforcement, said in a statement.

Insider trading at Kalshi and Polymarket

Kalshi’s move to crack down on insider trading comes as the platform and Polymarket have seen themselves in the middle of high-profile incidents.

In April, three political candidates running in Democratic and Republican primaries were fined and suspended by Kalshi after they were accused of placing trades on the prediction market during their own primary campaigns, something the platform described as “political insider trading.”

In another incident in January, a Polymarket trader made more than $400,000 by placing a series of bets predicting theousting of then-Venezuelan President Nicolás Maduro. That trader was eventually arrested and identified as U.S. Army soldier Gannon Ken Van Dyke, 38, who was charged with using classified government information for personal gain.

Contributing: Michael Loria and Michelle Del Rey

Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Reach him at [email protected] and follow him on X @fern_cerv_.