Kalshi to require employer disclosure for sensitive trades

Kalshi will require users to disclose their employer before placing trades on markets that the company identifies as having elevated risk of material non-public information. The change follows an advisory committee recommendation and is scheduled to roll out in the coming weeks.

Under the new process, traders will complete an online form naming their employer before buying or selling contracts tied to political outcomes, corporate events or major policy decisions. Kalshi’s rules will identify which markets trigger the disclosure requirement and publish the procedures in its rulebook and on an integrity hub.

The policy was introduced after regulators and lawmakers raised concerns about insider trading on prediction platforms. On March 24, 2026, the White House circulated internal guidance warning staff not to use non-public government information on such sites. In May 2026, House Oversight Committee chair James Comer opened a formal inquiry and sent letters to Kalshi’s chief executive and a rival platform seeking details about user verification and monitoring.

Kalshi operates as a CFTC-regulated exchange and already has multiple safeguards. These include detailed onboarding screens for high-risk roles such as elected officials and other public figures, real-time trade surveillance with third-party partners, the ability to freeze accounts during investigations and procedures to refer potential violations to the Commodity Futures Trading Commission or the Department of Justice.

Kalshi’s CFTC-approved rulebook prohibits trading on material non-public information, trading by source-agency affiliates and trading by people who can influence an outcome. The company reports it opened more than 200 investigations into potential rule violations in the 12 months ending February 2026 and has publicly disciplined users with fines and multiyear suspensions.

Public enforcement actions in that period included penalties for a video editor at a major online creator who traded on upcoming content and for several congressional candidates who placed wagers on their own races.

Prediction markets have seen rapid volume growth in recent months, increasing scrutiny of how platforms prevent insider trading. As a regulated exchange with mandatory know-your-customer checks and fiat rails, Kalshi expects the employer disclosure to add a compliance layer for markets judged to carry higher MNPI risk and to address concerns from institutional and compliance-focused participants.

Kalshi said it will publish full details on which markets will trigger the disclosure and how enforcement will operate. The company urged market participants and employers to review the forthcoming guidance when it appears.