Kalshi, the next-generation financial exchange, today announced a multi-year partnership with Nasdaq Market Surveillance to enhance monitoring and oversight of trading activity on its markets. The agreement forms one component of Kalshi’s broader approach to market oversight, complementing the exchange’s existing surveillance framework.

Kalshi plans to implement Nasdaq Market Surveillance in a phased approach, providing access to advanced cross-market, cross-asset monitoring capabilities for both prediction markets and perpetual-style derivatives.

The institutional-grade platform is designed to support real-time detection of market abuse, manipulation, insider trading, and related misconduct. It will be integrated into Kalshi’s trading infrastructure, with the ability to scale alongside the exchange as the asset class expands and new products and markets come online. The platform will also support the delivery of Kalshi’s trade data to the Commodity Futures Trading Commission (CFTC), in the format the agency requires, in line with Kalshi’s obligations as a CFTC-regulated exchange.

“This deal reinforces Kalshi’s commitment to market integrity,” said Max Crowley, VP of
Business Development at Kalshi. “Implementing Nasdaq Market Surveillance gives our markets the same surveillance data used by the world’s largest exchanges, and it’s built to scale with us as we grow.”