- Kalshi trade data will feed Comply’s surveillance platform, which more than 5,000 financial firms use to police employee trading.
- Kalshi opened more than 150 insider-trading investigations in the first quarter and made more than 20 law enforcement referrals.
- The deal is the exchange’s second employee-monitoring arrangement in seven weeks, after a June partnership with StarCompliance.
- No federal rule requires the monitoring, and the Commodity Futures Trading Commission has not written one.
NEW YORK – Kalshi will feed its event-contract trade data into surveillance software used by more than 5,000 financial firms, under a partnership with the compliance-technology firm Comply announced Aug. 4. Compliance teams at those firms will be able to flag employees who trade prediction markets on confidential information.
What The Platform Ingests
Comply’s system takes Kalshi contract trades in real time and displays them next to an employee’s equities, bonds, options, futures and crypto positions, according to the companies’ announcement. Compliance teams can write their own rules, require preclearance before a trade is placed, run pattern analysis and open a case file when activity looks like it followed material nonpublic information.
Comply already covers Polymarket trades through a separate partnership with ZenLedger, so one dashboard covers both Kalshi and Polymarket.
Michael Stanton, Comply’s chief executive, said in the announcement that “prediction markets have grown faster than most compliance frameworks were designed to handle.” Stanton said compliance teams do not need a separate tool and can watch contract trades “alongside equities, bonds, options, futures, and crypto in a single platform.”
Kalshi’s Own Enforcement Numbers
Kalshi opened more than 150 insider-trading investigations in the first quarter of 2026 and blocked over 100 suspected insider trades with new screening tools, Robert DeNault, the exchange’s head of enforcement, said in a June 9 market integrity update. The exchange also made more than 20 referrals to law enforcement and brought five disciplinary actions of its own.
The exchange based three changes on the first report from an independent Surveillance Audit Committee, which interviewed staff, examined policies and reviewed Kalshi’s algorithms. A risk score is now assigned to markets carrying heightened insider trading or manipulation risk, employment information is collected before traders can enter those markets, and every market page carries reporting tools for whistleblower tips.
“By implementing these new integrity measures, we continue to lead the industry on the issue of market integrity amongst federally regulated prediction markets,” DeNault wrote.
The exchange had already acted against candidates who traded their own races, in what became Polymarket and Kalshi’s first insider trading reckoning.
No Rule Requires Any Of It
The Commodity Futures Trading Commission has not written a prediction-market insider-trading rule. Its Division of Enforcement said in a Feb. 25 advisory that misappropriating confidential information in breach of a duty of trust is already barred by Section 6(c)(1) of the Commodity Exchange Act and Regulation 180.1, and that designated contract markets such as Kalshi hold an “independent duty” under the act’s core principles to run their own audit trails, surveillance and rule enforcement.
That advisory left the duty with the exchange. The Comply deal and the June 17 StarCompliance arrangement, which tracks transaction volume, market categories and trading during work hours, move part of the detection to the employers whose staff hold the nonpublic information in the first place. Neither deal was ordered by a regulator.
Where The Exposure Sits, And What Comes Next
The exposure is sharpest in election and government contracts, the markets behind most published election odds, where campaign and agency employees see results before the public does.
The Surveillance Audit Committee will continue issuing quarterly reports.
