Kalshi has integrated trade surveillance tools from compliance provider Comply to help financial firms monitor employee activity on its prediction market platform. The move addresses institutional demand for oversight as Kalshi expands its offerings and fights a multibillion-dollar lawsuit from New York.
The partnership feeds Kalshi’s transaction data into Comply’s regulatory software, used by over 5,000 financial firms. Employers can now track employee positions in event contracts alongside monitored activity in stocks, bonds, and digital assets. The system flags trades potentially involving material non-public information or events linked to an employee’s professional access. Firms may restrict specific markets without imposing blanket bans, granting controlled participation.
Kalshi also plans to extend the monitoring to its proposed perpetual futures products. A similar agreement with StarCompliance was reached in June, and Comply already covers prediction markets through a separate Polymarket data partnership with ZenLedger. The surveillance integration comes as New York Attorney General Letitia James seeks over $36 billion in damages, accusing Kalshi of operating unlicensed gambling products. Kalshi moved the case from state to federal court after the July 31 filing, ending an immediate preliminary injunction review but not resolving the legal dispute.
A recent CFTC settlement involving former Representative George Santos underscored enforcement risks. Santos returned gains, paid a $17,500 penalty, and accepted a three-year trading ban after the regulator found he made misleading statements while holding Kalshi contracts tied to a political event. Kalshi had referred his activity to regulators, demonstrating its internal surveillance capabilities.
