News Summary

• As prediction markets increasingly list contracts tied to political decisions and government activity, that information can become directly tradable.
• The issue is already emerging on Kalshi, which has become one of the industry’s largest platforms.
• The company has spent years building surveillance systems designed to identify suspicious trading.
• Earlier this year, those systems flagged trades by former Congressman George Santos connected to markets related to the State of the Union address.
• Officials have also examined the trading activity of Gabriel Perez, a former White House teleprompter operator.