Kalshi Announces Independent Surveillance Audit Committee, Partnerships with Director of Wharton Forensic Analytics Lab and Solidus Labs, and new Head of Enforcement

Committee to produce public quarterly reports

NEW YORK--(BUSINESS WIRE)--Prediction market platform Kalshi today announced a major expansion of its market surveillance and enforcement framework. The company has formed an independent surveillance advisory committee and new trading surveillance partnerships with Solidus Labs and the Director of the Wharton Forensic Analytics Lab, Daniel Taylor. These initiatives further strengthen Kalshi’s market surveillance and compliance programs, solidifying its position as the leading federally regulated prediction market.

Founded in 2018, Kalshi created and established prediction markets as a new financial asset class. Its founders spent the first few years of the company’s inception getting regulatory approval from the CFTC, before they launched a single product. Like the healthcare and banking industries, they knew regulation was critical to earning trust and legitimacy.

Being federally regulated means that Kalshi bans market manipulation, insider trading, has limits on the types of markets it lists, runs Know-Your-Customer (KYC) and Anti-Money Laundering (AML) checks on every user before they can trade, and publicly reports all trades to the CFTC daily. Kalshi also spent years building custom prediction market trade surveillance and enforcement systems that are similar to those used in the stock market.

Today, Kalshi is taking additional steps to ensure platform integrity and its users’ safety by partnering with leading surveillance industry experts and organizations. These steps include:

• The engagement of former Under Secretary of the Treasury for Terrorism and Financial Intelligence and Cooley partner, Brian Nelson, to advise Kalshi on market integrity, trading surveillance, and financial compliance matters. Kalshi has also formed an independent Surveillance Advisory Committee, whose members include Lisa Pinheiro, Managing Principal at Analysis Group, where she leads work on data-driven analysis of market manipulation and price impact, and Daniel Taylor, Director of the Wharton Forensic Analytics Lab and insider trading and fraud prediction expert. The Committee will provide quarterly analysis to Kalshi’s outside counsel, and it will publish a series of statistics related to flagged trades, investigations opened and closed, and any disciplinary proceedings initiated by the exchange.
• Partnership with Solidus Labs. Solidus Labs provides trade surveillance technology to detect, investigate, and address market abuse. Kalshi will use the Solidus platform to augment its in-house systems and provide institutional-grade protection against sophisticated manipulation across its 4,000+ markets. Solidus’ work with Kalshi will be in collaboration with Daniel Taylor, Director of Wharton Forensic Analytics Lab.
• The appointment of Kalshi lawyer Robert DeNault to the role of Head of Enforcement. In his new role, Robert will coordinate with the Surveillance Advisory Committee and Kalshi’s surveillance partners, as well as Kalshi’s Compliance Department, to prevent and detect instances of insider trading and market manipulation. DeNault joined Kalshi at the end of 2025 after working as an attorney in the global white collar crime practice group at White & Case LLP. There, he advised clients on financial and securities fraud investigations, regulatory and enforcement matters, and internal investigations.
• The creation of Responsible Trading and Market Integrity hubs on Kalshi’s website. These hubs will be a resource for consumers, synthesizing important information about consumer protections and how Kalshi is regulated.

"We are proud to support Kalshi on its mission to reinvent financial markets with event-based trading," said Asaf Meir, Founder and CEO of Solidus Labs. "At Solidus, we believe that a platform built to trade on the future deserves a trade surveillance partner that isn’t stuck in the past. By deploying Solidus’ agentic trade surveillance and compliance hub, Kalshi is demonstrating once again its highest commitment to consumer investor protection and market integrity."

“Market integrity is one of the pillars of Kalshi’s growth strategy. I am pleased to advise Kalshi on further processes and safeguards to detect and deter insider trading and market manipulation,” said Daniel Taylor, Director of the Wharton Forensic Analytics Lab.

“Kalshi was the first to regulate prediction markets in America,” said Robert DeNault, Head of Enforcement. “We’re now bringing on some of the industry’s leading surveillance experts to build and guide the future of prediction market compliance.”

About Kalshi

Founded in 2018, Kalshi is the world’s largest prediction market. Prediction markets provide accurate, real-time information on the likelihood of events, making people more informed about the future. Kalshi is credited with legalizing and establishing prediction markets as a financial asset class. It’s the leading safe and regulated platform trusted by millions of Americans. To learn more about Kalshi, visit www.kalshi.com.

About Solidus Labs

Born in crypto and built for Wall Street, Solidus Labs is the gold standard for Agentic-Based Compliance in trade surveillance and risk monitoring. Founded in 2018 by Goldman Sachs veterans, the company merges Wall Street rigor, crypto-native innovation, and cybersecurity principles to reinvent compliance for the modern financial era. At the core is HALO, an AI-powered risk-based platform trusted by financial institutions, crypto firms, and regulators globally to drive proactive, intelligence-led oversight—across any product, venue, or asset class. Learn more at www.solidus.com.