Kalshi adopts Nasdaq surveillance platform already used by the CFTC
Kalshi signed a multi-year deal to run Nasdaq's market surveillance platform across its event contracts exchange, the two companies said on Monday. The same platform is already used by the CFTC. The Nasdaq deployment adds to Kalshi's existing surveillance partnership with Solidus Labs. Terms were not disclosed. Nasdaq did not name other prediction-market clients. Kalshi did not specify a go-live date. The deal arrives as CFTC examiners tighten scrutiny of new contract approvals under proposed Rule 40.11 revisions.
Nasdaq's brand gives Kalshi a regulatory talking point rivals lack. CFTC examiners already know this codebase from their own floor. That familiarity should speed contract-category approvals where Polymarket and ForecastEx face longer review cycles. The real audience is institutional traders.
They demand redundant surveillance before committing capital, and Kalshi now offers three overlapping layers. Competitors must match this stack or lose that flow. The hidden cost is uptime dependency and vendor management overhead. A failure in any layer still halts trading, but at least the audit trail is clean.
Kalshi's surveillance stack now includes Nasdaq's market surveillance tool alongside its Solidus Labs partnership.