Kalshi has hired former FBI agent Sean Fern to lead its first anti-money laundering team as prediction markets face increasing regulatory scrutiny.

Fern, who previously served as a federal prosecutor in Brooklyn and worked on the FBI’s international corruption squad, will monitor suspicious activity on the platform.

According to TickerTracker, Kalshi has processed $260 billion in bets this year, triple the amount traded in all of 2025. The platform faces mounting pressure over market manipulation and insider trading. Federal regulators recently settled with former Rep. George Santos over market manipulation, whilst prosecutors indicted individuals for allegedly using non-public information on rival platform Polymarket.

PitchBook estimates Kalshi’s value at around $40 billion. The company has 250 employees and plans to double headcount within six months.