Sources: CFTC warns Kalshi may face charges

The U.S. Commodity Futures Trading Commission has privately warned prediction market platform Kalshi that it may soon bring charges over how the company notified regulators about dozens of new product listings, according to a person familiar with the matter. The probe has been underway for several months and centers on Kalshi's use of the self-certification mechanism, which lets exchanges list contracts as soon as the next day without explicit CFTC approval provided the operator confirms they comply with regulatory requirements. Kalshi spokesperson Elisabeth Diana said only a small number of contracts are involved, many of which have not yet gone live, and that the company is working through the issue. The potential enforcement action matters because it tests how far the self-certification process—central to Kalshi's rapid product expansion—can stretch before regulators push back. What to watch next is whether the CFTC formally files charges and whether the dispute prompts Kalshi to slow its rollout of new contracts.