Kalshi has entered into a multi-year partnership with Nasdaq Market Surveillance to enhance monitoring and oversight of trading activity across its markets. The agreement is part of Kalshi’s broader market oversight strategy and will complement the exchange’s existing surveillance framework.
Kalshi plans to implement Nasdaq Market Surveillance through a phased rollout, providing the exchange with advanced cross-market and cross-asset monitoring capabilities across prediction markets and perpetual-style derivatives.
The institutional-grade platform is designed to support real-time detection of potential market abuse, manipulation, insider trading and other forms of misconduct.
Nasdaq Market Surveillance will be integrated into Kalshi’s trading infrastructure and is designed to scale as the exchange introduces additional products and markets and overall activity in the asset class increases.
The technology will also support the delivery of Kalshi trade data to the Commodity Futures Trading Commission in the format required by the regulator, supporting the company’s obligations as a CFTC-regulated exchange.
Kalshi already maintains its own prediction market trade surveillance and enforcement systems. The company prohibits market manipulation and insider trading and places limits on the types of markets it lists.
The exchange also conducts background checks on users before permitting them to trade.
By incorporating Nasdaq’s technology, Kalshi plans to add institutional-grade, 24/7 surveillance infrastructure as trading volumes grow and prediction markets gain adoption among institutional market participants.
Nasdaq Market Surveillance is used by more than 50 exchanges and 20 international regulators worldwide.
The partnership comes as Kalshi seeks to strengthen the infrastructure surrounding prediction markets as they develop into a larger segment of the financial markets.
KEY QUOTES:
“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
“Prediction markets are among the fastest-growing segments of the financial landscape, and they demand surveillance infrastructure with the scale and expertise that can match that pace.”
Tony Sio, Head of Regulatory Strategy and Innovation at Nasdaq
