Kalshi spokesperson Elisabeth Diana stated that the company has not been contacted by the Commodity Futures Trading Commission (CFTC) and does not believe it is facing a formal investigation. This follows reports that the prediction market was under regulatory scrutiny due to unusual trading patterns in its Ethereum perpetual contract market. Diana explained that these data patterns are typical characteristics of liquidity incentive programs and are common in financial markets. CoinDesk reported earlier on Tuesday that a significant portion of the trading volume in Kalshi's Bitcoin and Ethereum perpetual contract markets consisted of trades of the same size, with many Ethereum perpetual contract trades concentrated around $5,500, and Bitcoin perpetual contract trades around $2,500 or $5,000. The Wall Street Journal subsequently reported similar data, adding that the CFTC was reviewing Kalshi's trading activities. Kalshi stated that it sends data to the CFTC daily and has implemented multiple tools and a full monitoring team to prevent wash trading and self-trading.