Kalshi said it has not been contacted by the Commodity Futures Trading Commission (CFTC) and does not believe it is under formal investigation, pushing back against reports of regulatory scrutiny over trading activity on the prediction market. “We have not been contacted by the CFTC and don't believe there is any formal examination,” Kalshi spokesperson Elisabeth Diana said in a statement. “As we’ve said, these data patterns are typical of liquidity incentive programs and common in financial markets.”