Kalshi Faces Wash Trading Allegations Over $539M ETH Perp Volume
Key highlights:A trader has raised concerns about possible wash trading on Kalshis Ethereum perpetual futures contractThe platform recorded $539 million in 24-hour trading volume, with only $3.1 million in open interestBeni noted that the latest fee rebate program for perpetual contracts helps traders make repeated trades Prediction market platform Kalshi is facing fresh scrutiny over its crypto perpetual futures. After the platforms Ethereum perps recorded an unusually high trading volume, with open interest remaining relatively low, the large gap between the two raised concerns of possible wash trading. Why is Kalshis ETH perpetual trading activity under scrutiny? Traders have reportedly highlighted unusual trading activity on Kalshis Ethereum perpetual futures contract. The concerns come as there was a wide gap between the trading volume and open interest. According to traders, such a gap could indicate possible artificial or wash trading activity. Notably, quantitative analyst and co-founder of Stealth Neolab Beni took to X to highlight the figures for Kalshis ETH perpetual contract (ETH-PERP). “Kalshi fakes their crypto volume, and I can prove it,” stated Beni. According to his post, the contract saw around $539 million in 24-hour trading volume, while the open interest was recorded at merely $3.1 million. Discover more Ethereum market analysis Enterprise blockchain solutions Secure crypto









