Kalshi contract trading volume manipulation? Remarks by Kalshi Crypto Lead Spark Questions from Polymarket Team Members

Odaily reported that CNBC recently covered Kalshi perpetual contracts reaching $1 billion in trading volume within the first week of launch. John Wang, Head of Crypto at Kalshi, subsequently posted on X platform: "Kalshi Perps reached $1 billion in trading volume within the first week of launch, and this product has not yet been publicly released." He also noted that prediction markets took 3.5 years to reach a similar trading volume scale. Polymarket team member Mustafa Aljadery appeared in the comments section to offer congratulations while inquiring about the perpetual contract's OI (open interest) data, hinting at possible trading volume manipulation by Kalshi.

Additionally, many community members in the comments section expressed doubt about this data, emphasizing that it might represent trading volume data without fees or leverage, with some pointing out that Kalshi's OI data was only around $4.5 million.