Kalshi Taps Nasdaq Surveillance as Compliance Push Continues
Kalshi, a prediction market platform, has added Nasdaq Market Surveillance to its trading infrastructure. This move is part of Kalshi's broader push to strengthen its systems for detecting insider trading, market manipulation, and other potentially abusive activity.
The partnership with Nasdaq extends surveillance to Kalshi's fast-growing perpetual futures business, which has seen significant growth since its launch in late May. Perpetual futures volume had reached $16.1 billion by July 9, and Kalshi is now expanding beyond crypto perps, filing for CFTC approval to offer a gold-tied perpetual future.
Kalshi's existing market-oversight framework will be complemented by Nasdaq Market Surveillance, which provides real-time monitoring, cross-market, and cross-asset surveillance capabilities. The system also supports the delivery of Kalshi trade data to the Commodity Futures Trading Commission (CFTC) in the required format.
Kalshi has been building its compliance systems throughout 2026, adding new surveillance tools and expanding its relationship with another trade-surveillance provider, Solidus Labs. The company has also integrated with financial institutions' compliance systems to monitor employee trading activity on Kalshi.