Kalshi 回应 CFTC 审查报道:否认存在正式调查
Kalshi 表示,商品期货交易委员会(CFTC)尚未联系该公司,且公司认为并未启动任何正式调查。这一声明是在媒体报道质疑其比特币和以太坊永续合约市场出现异常交易模式后作出的。
重复的交易规模引发关注
媒体报道指出,Kalshi 的加密资产合约中存在大量重复的交易金额。CoinDesk 发现,许多以太坊交易金额接近 5,500 美元,而比特币交易金额则集中在 2,500 美元或 5,000 美元附近。此前关于“对敲交易”(wash trading)的担忧已使该平台的成交量数据受到广泛关注。
《华尔街日报》报道称,CFTC 正在审查相关活动,以决定是否启动执法调查。报道引用了近一百万笔金额相似的以太坊交易数据。此外,研究员 Beni 在对比了约 5.39 亿美元的每日以太坊永续合约名义交易量与 310 万美元的未平仓合约量后,也对这些活动提出了质疑。他的数据来源于 Kalshi 公开的 API 接口。
Kalshi 归因于流动性激励计划
Kalshi spokeswoman Elisabeth Diana said the company's liquidity incentive program may have resulted in duplicate transaction sizes. Such programs are designed to reward participants who place orders and help other customers buy and sell contracts more easily. Interest in the equity perpetual futures market is also expanding as exchanges seek regulatory approval for new products and compete for new users and trading activity.
Kalshi emphasized that the company uses monitoring tools and a dedicated team to detect self-trading and knock-on trading behavior. Counter-trading creates the illusion of active trading without changing the trader's actual market exposure. The company says its control mechanisms are designed to monitor such behavior.
Regulatory focus comes with market growth
Predicts rapid market expansion, bringing more attention to volume, market monitoring and trading control measures in the report. According to reports on Tuesday, the CFTC has not commented on the matter.
Other companies are also seeking approval for new derivatives, including a U.S. perpetual futures application filed by Coinbase. This shows that compliance products linked to cryptocurrencies are continuing to expand widely on U.S. trading platforms.
Diana also refuted rumors about Kalshi on social media, saying some of the rumors were instigated by competitors. The company maintains that trading patterns reflect its incentives rather than misconduct, although market participants are still debating the data reported across markets.

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