Topic
Systems and analytics used to detect anomalous or illicit trading, including FINRA SONAR and SEC ATLAS style pre-event anomaly detection.
Of 1,548 caution and risk designations since 2022, prices were lower 20 trading days later in 1,050 cases and down more than 30% in 398, while individuals were net buyers of 13 of the 41 stocks flagged in August.
Reality
The Wall Street Journal says Kalshi has prepared to seek approval for roughly 60 perpetual futures on stocks and ETFs, traded around the clock. Citadel Securities says equity-linked perps belong with the SEC.
Reality
Nasdaq Ventures put $100 million into Payward for what works out to about half a percent, and the tokens are targeted for the second quarter of 2027. The surveillance and onboarding commitments bind sooner.
Reality
Both of the CFTC's event-contract settlements began as Kalshi referrals, so the exchange is now funding securities-style trade surveillance in the same week the Ninth Circuit declined to shield it from Nevada gambling law.
Perspective Coverage
3 publishersReality
Robert DeNault and Wharton's Daniel Taylor argue SONAR-style tools are built for the wrong insider. In prediction markets, the insider can know the contract's answer.
Reality