Prediction market Kalshi now requires users to reveal their employer as it combats charges of insider trading and market manipulation on its platform.
Kalshi said it will require some users to disclose their employer as part of a broader push to respond to accusations of insider trading.
The federally regulated prediction market said the new policy applies to markets it considers at higher risk for insider trading abuse.
The company said the change is effective immediately and follows recommendations from an independent Surveillance Audit Committee.
The new measure comes as prediction markets such as Kalshi and rival Polymarket face increased scrutiny from lawmakers around the world.
In recent months, a U.S. Army Green Beret was arrested for $400,000 U.S. in bets he placed on Polymarket concerning the military raid in Venezuela that extracted President Nicolas Maduro.
Also this year, an engineer at Google parent company Alphabet (NASDAQ: $GOOGL ) was arrested for alleged insider trading on Polymarket.
Prediction markets allow users to bet on the outcome of real-world events, including elections, economic data, geopolitical events, and sports contests.
Critics accuse Kalshi and Polymarket of allowing people to place bets using insider knowledge and exploiting an unfair advantage.
Kalshi has said that it blocked more than 100 potential insider trades in this year’s first quarter. The company also said it opened more than 150 investigations into insider trading allegations.
The prediction market has also added new whistleblower reporting tools that allow users to flag suspicious trading activity on the platform.
Despite these measures, critics accuse Kalshi and Polymarket of operating unregistered gambling operations that exacerbate addiction among people and are essentially rigged.
Kalshi is a private company and its stock does not trade on a public exchange.
