Suspicious Kalshi Bot Shuts Down Amid Wash Trading Claims

Kalshi Says One Market Maker Drove Recurring Bitcoin and Ether Perp Trades

Why Were Kalshi's Crypto Perpetual Trades So Concentrated? A small number of repeating trade sizes accounted for more than half of the value traded in sampled bitcoin and ether perpetual futures on Kalshi, raising questions over how much of the exchange's headline volume reflects activity generated around a single market-making strategy. A review of Kalshi's public trade records from September 17 through September 20 found that ether trades valu…

Kalshi Bot Stops Uniform Trades Amid Wash Trade Claims

Pseudonymous analyst Beni sparked wash trading allegations against Kalshi last weekend, claiming the platform's 24-hour ether perpetual volume reached $539

Suspicious Kalshi bot shuts down amid wash trading claims

A suspicious bot on a Zohran Mamdani Kalshi market has stopped trading following allegations of wash trading.

Kalshi Pushes Back After Analyst Flags Wash Trading in Its Ether Perpetual

A researcher flagged Kalshi's ether perpetual market for a 174-to-1 gap between $539 million in volume and $3.1 million in open interest, with the same $5,500 trade repeating across days. Kalshi's crypto product lead disputed the analysis, and no CFTC action has followed.

Kalshi Denies Faking Its Crypto Volume

The exchange says the repeating trade size that drew wash-trading accusations over the weekend came from one market maker it pays to keep orders on the book, and that the maker was losing money to faster traders.

Kalshi responds to wash trading claims over ether perpetual volume

Kalshi's defense highlights the complexities of distinguishing legitimate market making from wash trading, impacting regulatory scrutiny and market trust.