Kalshi CEO eyes DOJ insider trading crackdown

The transition from CFTC oversight to DOJ criminal enforcement marks the end of the "wild west" era for prediction markets. Applying traditional material non-public information standards to pop-culture and weather events creates a complex new legal precedent for information value. The shift is likely a response to the massive volumes seen in recent markets, and Kalshi is positioning itself as a clean alternative to offshore platforms by actively inviting federal enforcement. Recent appellate wins are further consolidating these markets under a single federal regulatory framework.