Key Takeaways
According to CryptoSlate, prediction-market operator Kalshi is ending its volume incentive program early as it faces questions over trading quality and pursues a new fundraising push.
According to CryptoSlate, prediction-market operator Kalshi is ending its Volume Incentive Program nearly a year early, with termination set for no earlier than Oct. 13. The decision follows a CFTC filing and comes amid increased scrutiny over trading patterns in its perpetual futures markets, though Kalshi has rejected allegations of wash trading and stated it is not under investigation.
Simultaneously, Kalshi has introduced a new Deposit and Trading Reward Incentive Program that allows for targeted promotions based on deposits and trading activity, replacing broad volume subsidies. This transition occurs alongside record trading volumes, with data from DeFiRate showing Kalshi handled $3.24 billion on Sept. 27 and $15.66 billion for the week. Reuters reported that Kalshi is in advanced discussions to raise about $1 billion at a valuation of roughly $40 billion, with Sequoia Capital and Wellington Management discussing leading the round, alongside potential investments from Tiger Global and Dragoneer Investment Group.
Source & Fact-Check Note
https://cryptoslate.com/kalshis-40-billion-growth-story-now-comes-with-a-harder-question-about-its-trading-volume/
