24/09/2026
Kalshi is facing questions over nearly $5B in unusual Ether trading activity.
The prediction-market platform says the CFTC has not contacted the company about the activity and is pushing back on speculation around the trades.
The unusual volume came from Ether perpetual contracts, with billions of dollars changing hands in a short period.
Kalshi has also denied allegations of wash trading, saying the activity does not amount to market manipulation.
For now, there’s no confirmed CFTC investigation into Kalshi over these trades.
The bigger question: what caused such a massive spike in Ether trading activity?
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