Kalshi, a financial exchange specializing in prediction markets and derivatives, has partnered with Nasdaq Market Surveillance to bolster trading oversight and compliance monitoring. The multi-year agreement will deploy institutional-grade surveillance infrastructure across Kalshi’s markets as the platform scales its operations and user base.
- Coverage: Cross-market, cross-asset monitoring for prediction markets and perpetual-style derivatives
- Capabilities: Real-time detection of market abuse, manipulation, insider trading, and related misconduct
- Nasdaq Platform Users: Over 50 exchanges and 20 international regulators globally
- Regulatory Alignment: Supports CFTC trade data reporting requirements in agency-specified formats
The implementation will proceed in phases, integrating Nasdaq’s surveillance tools directly into Kalshi’s trading infrastructure. The platform’s real-time monitoring capabilities will enable detection of market manipulation, insider trading, and other misconduct. Data reporting to the CFTC, which regulates Kalshi as a derivatives exchange, will be formatted according to regulatory requirements.
This deal reinforces Kalshi’s commitment to market integrity. Implementing Nasdaq Market Surveillance gives our markets the same surveillance data used by the world’s largest exchanges, and it’s built to scale with us as we grow.
– Max Crowley, VP of Business Development at Kalshi
Kalshi has maintained internal compliance measures including user background checks, market manipulation prohibitions, and curbs on certain market listings. The partnership complements these existing frameworks as prediction markets accelerate adoption among institutional investors. Nasdaq Market Surveillance operates across 50+ exchanges globally and supports oversight for 20 international regulators.
Max Crowley, VP of Business Development at Kalshi. Source: LinkedIn
