Kalshi adopts Nasdaq-inspired surveillance systems to court institutional traders

Kalshi, the largest CFTC-regulated prediction market in the US, is borrowing from Wall Street’s playbook to prove it belongs in the same conversation as traditional exchanges. The platform has been systematically upgrading its trade surveillance infrastructure by modeling its systems after those used by Nasdaq and the NYSE, a move designed to reassure both regulators and the institutional money sitting on the sidelines. The effort comes at a pivotal moment for the company. Kalshi is navigating a lawsuit exceeding $36 billion while simultaneously trying to convince sophisticated investors that prediction markets are more than a novelty. The surveillance stack taking shape Kalshi’s compliance buildout has been methodical. In February 2026, the company partnered with Solidus Labs, a firm known for its crypto-market surveillance expertise, to strengthen its ability to detect market abuse. Then in early August 2026, Kalshi added another layer by teaming up with Comply, a compliance provider that gives institutional clients the ability to track employee trading activities on the platform. This is the kind of tool that banks and hedge funds already use to monitor what their traders are do...