# Kalshi Says CFTC Has Not Opened Examination Into Ether Trading

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/23442
Published: 2026-09-23T23:48:48.000Z
Updated: 2026-09-23T23:48:48.000Z

Kalshi said it has not been contacted by the Commodity Futures Trading Commission about trading in its Ether (ETH) perpetual market and does not believe the regulator has opened a formal examination.

The prediction-market operator attributed repeated, similarly sized trades to liquidity incentives that encourage market makers to keep orders posted. Kalshi said a single market maker’s fixed-size orders could be filled by multiple takers, producing the pattern seen in public market data.

The data showed about $539 million in 24-hour Ether perpetual volume against approximately $3.1 million in open interest. Trades worth $5,500 accounted for 48% to 58% of notional volume on four September days.

Kalshi published its explanation Sept. 22, saying its perpetual markets reward resting liquidity rather than trading volume. The company said it mechanically blocks self-trades and monitors for prearranged trading between partners.

Its exchange rules subject perpetual products to surveillance and anti-manipulation requirements, with daily publication of volume and open-interest data.