Quantitative analyst Beni questioned the practice of artificially exaggerating cryptocurrency trading volume on prediction market platform Kalshi. Beni pointed out that the open interest volume of Kalshi ETH-PERP is about 3.1 million US dollars, but the 24-hour trading volume reaches 538.6 million US dollars, which is equivalent to about 174 daily turnover. Beni stated that Kalshi's ETH-PERP maximum single position is only about $17600, which differs from the trading volume size. Beni mentioned that the documents submitted by Kalshi to the CFTC show that the trading cost for market makers is 0 basis points, and Kalshi and Jump Trading have reached a cooperation agreement to exchange liquidity for equity. Beni questioned Kalshi's use of the trading contract quantity as a volume and displaying it in US dollar symbols, which may lead to misunderstandings among users about the actual transaction amount.
