KALSHI ACCUSED OF FAKING CRYPTO PERPS VOLUME

Summary from the TLDR Crypto newsletter

A crypto researcher published a two-part thread alleging Kalshi is fabricating PERP trading volume, with the core evidence showing a single $5,500 ETH trade size accounted for 48-58% of all ETH PERP volume on four separate days. An anonymous source in the thread claims Kalshi runs volume incentive arrangements with market makers, creating a direct financial reward for artificial trading activity. The researcher downloaded and encrypted the underlying exchange data to three separate cloud backups ahead of potential deletion.