Report: CFTC Eyes Unusual $5B Trading Pattern on Kalshi ETH Perpetuals

The CFTC is reportedly examining an unusual $5 billion trading pattern involving Kalshi ETH Perpetuals. Kalshi has denied all wash trading allegations, stating that the repeated transactions resulted from the execution of market makers' orders. Furthermore, Kalshi claims the CFTC has not contacted them regarding this activity, asserting that the nearly $5 billion in similarly sized Ether perpetual trades were actually a reflection of the company's specific liquidity incentive programs rather than illicit trading.