The Commodity Futures Trading Commission is investigating whether prediction market Kalshi failed to properly notify the agency of proposed event contracts, Kalshi confirmed to CNBC on Wednesday, Nov. 11, 2026.[1] Kalshi called it a minor filing issue and said it is working with the CFTC to address it.
Related: The Boston Report business section.
The CFTC probe
The agency flagged weather-related contracts, Kalshi said.[1] Politico first reported the probe on Tuesday and said charges could come soon, based on the CFTC’s private notice to Kalshi. Kalshi declined to comment on possible charges, and the CFTC did not immediately respond to CNBC.
Prediction markets may self-certify event contracts without the agency’s prior approval, as long as they comply with the Commodity Exchange Act.[1] Self-certification lets platforms launch new contracts faster.
Bets on drug trials
Separately, Democratic Sens. Angela Alsobrooks of Maryland and Ron Wyden of Oregon wrote to Health and Human Services Secretary Robert F. Kennedy Jr. about markets tied to clinical trials and FDA approvals.[2]
Such bets undermine “the scientific process, creates perverse incentives for researchers, harms trial participants, and could lead to dangerous medical outcomes,” the senators wrote.[2]
They asked HHS for internal communications about staff participation in these markets and for contacts with the platforms and the CFTC.[2] They also raised concerns about insider trading by people with nonpublic information.
Kalshi, which offers such contracts in the U.S., says it has guardrails in place to protect market integrity.[2]
More coverage is in our business section and politics and government section.
Sources
- CNBC: CFTC investigates if Kalshi improperly self-certified event contracts
- CNBC: Prediction markets tied to clinical trials and drug approvals draw lawmakers’ ire
Read next in Markets
Most read this week
- Abdul El-Sayed and the Muslim Brotherhood Claims: What’s Confirmed and What Isn’t
- Kremlin Names Abu Dhabi Team as Ukraine Sets Security and Prisoner Priorities
- Drones Kill Workers at Zaporizhzhia Nuclear and Thermal Plants, IAEA Says, as Russian Strikes Hit 5 Substations
- Fall Out Boy Will Play Fenway Park on July 30, 2027, With The Offspring, Good Charlotte and The Story So Far
- Nvidia Board Hires Wachtell’s Joon Kim to Lead Huang Probe as Shares Fall 5.47% and an Investor Sues
Latest
- Judge Lets Trump’s $10 Billion Defamation Suit Against the BBC Proceed
- Congo’s Ebola Outbreak Tops 11,000 Cases as Kenya Discharges Its Last Patient
- Indonesia’s Vice President Gibran Offers to Resign Over Diploma Ruling
- U.S. Charges Three Men in Iran-Backed Plot Tied to RAF Fairford Incident
- Spain’s First General Strike in 14 Years Ends in Barcelona Clashes
Get The Boston Report Briefing
Our free weekly email with the most important stories from Boston and the world. Unsubscribe anytime.
Free. We never sell your address. Privacy policy