预测市场平台Kalshi要求高风险交易用户披露雇主信息以打击内幕交易Kalshi Requires Employment Disclosures for High-Risk Trades to Curb Insider Trading

预测市场平台Kalshi于2026年6月9日宣布，将要求在具有高度内幕交易或操纵风险的特定市场中交易的用户披露其雇主身份。根据该平台周二确认的消息，此项新规是在咨询委员会呼吁采取更强有力措施后立即生效的。除了收集就业信息外，Kalshi还将推出举报人服务，以进一步遏制预测市场中的违规行为。

The prediction market platform Kalshi announced on Tuesday, June 9, 2026, that it will require users trading in certain markets with a heightened risk of insider trading or market manipulation to disclose their employer's identity. According to the company, these changes are effective immediately and were rolled out after an advisory committee called for stronger measures. Alongside the new employment disclosure requirements, the platform is also introducing whistleblower services to clamp down on illicit trading activities.

该平台允许用户对选举、体育赛事和文化等进行相互投注。随着预测市场的普及，内幕交易问题引发了越来越多的关注。Kalshi表示，新规定将适用于那些内幕交易或操纵风险较高的市场，例如涉及OpenAI或Anthropic谁先上市等敏感信息的特定合约交易。用户在参与这些高风险市场前，必须提供其工作详细信息。

Kalshi, which allows users to bet against each other on elections, sporting events, and culture, is implementing this rule specifically for markets deemed to have elevated risks. As an example of such a high-risk scenario, the firm pointed to potential trades on sensitive corporate developments, such as whether OpenAI or Anthropic will go public first. Under the new policy, customers attempting to place bets in these designated markets must provide their work details before trading.

根据Kalshi公布的方案，该平台将通过六个不同的维度对新市场进行风险评估并赋予“风险评分”，以衡量该市场存在内幕交易或市场操纵的风险程度。这些评估维度包括该市场是否涉及国家安全、地缘政治事件（例如伊朗战争）、企业业绩表现，以及在当前监管框架下该市场的合规性等指标。

Under the compliance framework announced by Kalshi, the platform will evaluate new markets and assign them a "risk score" using six distinct metrics to measure the likelihood of insider trading or market manipulation. These evaluation metrics include whether the market involves matters of national security, major geopolitical events such as the war in Iran, corporate performance, and whether the market is acceptable under current regulatory standards.

如果某个市场的风险评分达到了特定基准，用户在进行交易前必须通过在线表单提交其就业信息。Kalshi表示，平台将在交易实际发生前对交易者进行筛选。尽管平台不会主动核实这些在线表单中的就业信息，除非因可疑活动触发调查，但系统会根据用户的雇佣关系直接拦截特定交易。例如，如果一名谷歌员工试图在与谷歌相关的预测市场上交易，系统将直接阻止其买入相关合约。

If a market's risk score meets a designated benchmark, participants will be required to submit their employment details through an online form before any trade is placed. Kalshi stated that it will screen traders prior to execution. While the platform does not plan to actively verify the submitted employment information unless suspicious activity triggers a formal investigation, it will use the data to block trades in specific scenarios. For instance, the system can directly prevent a Google employee from trading on a Google-related prediction market.

近期，预测市场因一系列涉及内幕交易的丑闻而面临公众和监管机构日益严峻的审查。其中一起备受关注的事件涉及前国会议员乔治·桑托斯（George Santos）。据报道，桑托斯目前正因涉嫌在Kalshi平台上进行内幕交易而接受调查。他被指控在最初宣称自己会参加总统唐纳德·特朗普的国情咨文发表会后，利用其掌握的内部信息，非法投注自己实际上不会出席该活动。

The regulatory and public scrutiny surrounding prediction markets has intensified following a series of high-profile insider trading scandals across different platforms. Among these is an ongoing investigation into former Congressman George Santos. Santos is reportedly being investigated for allegedly using inside information to place illegal bets on Kalshi, specifically wagering that he would not attend President Donald Trump’s State of the Union address after he had initially announced that he would attend.

此外，军事和企业领域的内幕交易行为也频频曝光。今年4月，一名美国陆军士兵被指控利用有关美军在委内瑞拉军事行动时间节点的机密信息，在Polymarket平台上进行交易，并借此非法获利40万美元。在企业层面，一名谷歌员工于今年5月被联邦检察官起诉，指控其利用谷歌内部的机密搜索数据在Polymarket上进行交易，从而赚取了超过100万美元。这些频发的违规事件直接推动了平台方和监管部门对市场诚信建设的关注。

Other recent cases highlight the exploitation of confidential military and corporate data. In April, a U.S. Army soldier was charged with using classified information regarding the timing of U.S. military operations in Venezuela to net a $400,000 profit on Polymarket. Additionally, in May, federal prosecutors charged a Google employee with fraud for allegedly using confidential Google search data to place trades on Polymarket, yielding more than $1 million in illicit profits. These compounding incidents have fueled widespread concern over market integrity.

Kalshi表示，其新推出的筛选工具已经发挥了实际作用，成功阻止了至少100起潜在的内幕交易。该平台合规负责人罗伯特·德诺（Robert DeNault）在一份声明中指出，通过实施这些新的诚信措施，Kalshi将继续在联邦监管的预测市场中，引领行业维护市场诚信。这一举措旨在解决预测市场在快速普及过程中所面临的合规挑战。

Kalshi reported that its newly implemented screening tools have already yielded tangible results, successfully stopping at least 100 potential insider trades. Robert DeNault, the head of enforcement at Kalshi, stated that by implementing these new integrity measures, the platform continues to lead the industry on the issue of market integrity among federally regulated prediction markets. The rollout represents an effort to establish stronger guardrails as the popularity of these platforms grows.

在此次推出新规之前，预测市场已经暴露出诸多行业乱象。Kalshi此前曾透露，平台发现来自明尼苏达州、德克萨斯州和弗吉尼亚州的国会候选人竟然在投注他们自己的选举。这类事件与近期频发的内幕交易丑闻共同表明，随着预测市场交易规模的扩大，加强行业自律和合规监管已成为维护市场秩序的紧迫需求。

The introduction of these compliance measures follows previous disclosures of irregular betting behaviors within the industry. Kalshi previously revealed that it had discovered congressional candidates from Minnesota, Texas, and Virginia placing bets on their own election races. These findings, combined with recent high-profile insider trading cases, have intensified the demand for stricter oversight and self-regulation to protect the credibility of prediction platforms.