Jun 9, 2026, 21:40

Kalshi Stops Cheating in Trading

Kalshi 遏止交易作弊

Introduction

Kalshi is a website for trading. It has new rules to stop people from cheating.

Kalshi 是一個交易網站。它推出了新規則以防止人們作弊。

Main Body

Kalshi uses a new system to find risky trades. Some people have secret information from their jobs. These people can cheat to win money. Now, these people must tell Kalshi where they work.

Kalshi 使用一套新系統來發現高風險交易。有些人擁有來自工作的內部秘密資訊，可以用來作弊贏錢。現在，這些人必須告知 Kalshi 他們的工作地點。

Kalshi also has a new tool for reports. People can report cheating 24 hours a day. This helps Kalshi follow the law in the USA.

Kalshi 還推出了一個新的舉報工具。人們可以 24 小時隨時舉報作弊行為。這有助於 Kalshi 符合美國的法律。

Kalshi is very active. This year, they started 150 investigations. They stopped 100 bad trades. They also told the police about 20 people.

Kalshi 非常積極。今年他們發起了 150 項調查，攔截了 100 筆違規交易，並向警方舉報了約 20 人。

Conclusion

Kalshi now has a strong system. It wants to be a safe and honest place to trade.

Kalshi 現在擁有一套強大的系統，旨在打造一個安全且誠實的交易環境。

Vocabulary Learning

💡 The 'Action' Pattern

Look at how the text describes what Kalshi does. It uses simple present verbs to show a regular habit or a current fact.

The Pattern: Who/What → Action → Detail

Examples from the text:

Kalshi $\rightarrow$ uses $\rightarrow$ a new system.
People $\rightarrow$ report $\rightarrow$ cheating.
It $\rightarrow$ wants $\rightarrow$ to be safe.

🛠️ Word Swap: Numbers & Results

To reach A2, you need to describe quantities. The text uses these patterns to show success:

Started 150 investigations (The beginning of a process)
Stopped 100 bad trades (The end of a problem)
Told the police (Sharing information)

Quick Tip: When talking about the past, just add -ed to many action words (start $\rightarrow$ started, stop $\rightarrow$ stopped). This is the easiest way to tell a story about what happened.

Vocabulary Learning

trading (n.)

Buying and selling things to make money

Example:He spends his day trading stocks on his computer.

cheating (v.)

Doing something dishonest to win or get an advantage

Example:The student was caught cheating during the exam.

risky (adj.)

Something that is dangerous or could cause a problem

Example:Driving too fast in the rain is very risky.

secret (adj.)

Something that is hidden and not told to other people

Example:She told me a secret about her new job.

investigations (n.)

Activities to find the truth about something

Example:The police started investigations to find the missing car.

honest (adj.)

Telling the truth and not stealing or cheating

Example:An honest person does not lie to their friends.

Kalshi Introduces New Rules to Stop Insider Trading

Kalshi 推出新規則以防止內幕交易

Introduction

The prediction market platform Kalshi has launched new regulatory measures, including mandatory employment disclosures for high-risk trades, to prevent market manipulation.

預測市場平台 Kalshi 推出了新的監管措施，包括針對高風險交易的強制性僱用披露，以防止市場操縱。

Main Body

These new rules follow recommendations from an Independent Surveillance Audit Committee and come at a time when event-based exchanges are facing more scrutiny. The main tool for this oversight is a risk-scoring system that evaluates markets based on factors such as corporate performance and national security. If a market is considered high-risk, users must provide their employer's name via an online form. This process is designed to identify and stop 'insiders'—people with private, important information—from trading. This policy responds to several cases of illegal activity in the industry, such as fraudulent trades by a Google employee on Polymarket and investigations into former Congressman George Santos.

這些新規則是根據獨立監察審計委員會的建議而制定，且正值事件驅動交易所面臨更多審查之際。監督的主要工具是一個風險評分系統，根據企業表現和國家安全等因素對市場進行評估。如果某個市場被視為高風險，用戶必須透過線上表單提供雇主名稱。此流程旨在識別並阻止「內部人士」——即掌握私人重要資訊的人——進行交易。此政策是對業內幾起非法活動的回應，例如 Google 員工在 Polymarket 上的欺詐交易，以及對前國會議員 George Santos 的調查。

In addition to disclosure rules, Kalshi has improved its monitoring by introducing 24/7 whistleblower tools and internal alerts. These improvements aim to meet the requirements of the Commodity Futures Trading Commission (CFTC) and set Kalshi apart from competitors that operate outside the U.S. The company's data shows a proactive approach; Kalshi reports that it has started over 150 investigations this year, blocked more than 100 potential insider trades, and sent over 20 cases to the police. Furthermore, the platform has penalized political candidates who traded on their own election results, which the firm describes as political insider trading.

除了披露規則外，Kalshi 還透過引入 24 小時全天候舉報工具和內部警報來改善監控。這些改進旨在滿足美國商品期貨交易委員會 (CFTC) 的要求，並使 Kalshi 與在美國境外運作的競爭對手區分開來。公司的數據顯示了其積極的做法；Kalshi 報告稱今年已啟動超過 150 項調查，攔截了 100 多宗潛在的內幕交易，並將 20 多起案件移交警方。此外，該平台還懲罰了對自身選舉結果進行交易的政治候選人，公司將此描述為政治內幕交易。

Conclusion

Kalshi has moved toward a professional, institutional-grade system to ensure market honesty and follow government regulations.

Kalshi 已轉向專業的機構級系統，以確保市場誠信並遵守政府法規。

Vocabulary Learning

The 'A2 to B2' Power Move: Nominalization

At the A2 level, you usually describe actions using simple verbs: "The company wants to stop people from cheating."

But to reach B2, you need to move from actions to concepts. This is called Nominalization—turning a verb (action) into a noun (a thing/concept). Look at how this article does it:

A2 style: The committee surveilled the market $\rightarrow$ B2 style: *"Independent Surveillance Audit Committee"
A2 style: They disclose where they work $\rightarrow$ B2 style: *"mandatory employment disclosures"
A2 style: They manipulate the market $\rightarrow$ B2 style: *"prevent market manipulation"

💡 Why does this matter for your fluency?

Using nouns instead of simple verbs makes you sound more professional and objective. It shifts the focus from who is doing something to what the process is.

Compare these two sentences:

"They are investigating the case because they want to ensure the market is honest." (A2/B1)
"...to ensure market honesty and follow government regulations." (B2)

🛠️ Linguistic Pattern Breakdown

Notice the common suffixes used in the text to create these B2-level nouns:

-ion: Manipulation, Investigation, Regulation
-ure: Disclosure
-ance: Performance, Surveillance

Pro Tip: Next time you want to say "I want to improve my English," try using a B2 noun phrase: "I am focusing on my language improvement."

Vocabulary Learning

mandatory (adj.)

Required by law or rules; compulsory.

Example:The company introduced mandatory training sessions for all new employees.

disclosure (n.)

The act of making new or secret information known.

Example:Full disclosure of financial interests is required to avoid conflicts of interest.

manipulation (n.)

The act of controlling or influencing a situation unfairly or dishonestly.

Example:The regulator is investigating the company for market manipulation to inflate stock prices.

scrutiny (n.)

Critical observation or examination.

Example:The government's new policy has come under intense scrutiny from the public.

oversight (n.)

The action of overseeing a process or organization to ensure it is done correctly.

Example:The committee provides legislative oversight to ensure the agency follows the law.

fraudulent (adj.)

Obtained, done by, or involving deception, especially criminal deception.

Example:The bank blocked the transaction because it appeared to be fraudulent.

whistleblower (n.)

A person who informs on a person or organization engaged in an illicit activity.

Example:The whistleblower revealed that the company was dumping chemicals into the river.

proactive (adj.)

Taking action to control a situation rather than just responding to it after it has happened.

Example:By taking a proactive approach, the company solved the problem before it affected customers.

penalized (v.)

Punished for breaking a law, rule, or tradition.

Example:The athlete was penalized for using banned substances during the competition.

institutional-grade (adj.)

Of a quality or standard suitable for use by large organizations or professional institutions.

Example:The startup upgraded its security to an institutional-grade system to attract corporate clients.

Kalshi Implements Enhanced Market Integrity Protocols to Mitigate Insider Trading Risks

Kalshi 實施強化市場誠信協定以降低內幕交易風險

Introduction

The prediction market platform Kalshi has introduced new regulatory measures, including mandatory employment disclosures for high-risk trades, to prevent market manipulation.

預測市場平台 Kalshi 引入了新的監管措施，包括針對高風險交易的強制性就業披露，以防止市場操縱。

Main Body

The implementation of these protocols follows recommendations from an Independent Surveillance Audit Committee and coincides with increased scrutiny of event-based exchanges. The primary mechanism for this oversight is a risk-scoring framework that evaluates markets based on criteria such as corporate performance, national security implications, and outcome concentration. Should a market exceed a specific risk threshold, participants are required to disclose their employer via an online form. This measure is designed to identify and preclude 'presumptive insiders'—individuals possessing material, non-public information—from executing trades. Such a policy is a response to documented instances of illicit activity within the sector, including a Google employee's fraudulent trades on the rival platform Polymarket and investigations involving former Congressman George Santos.

這些協定的實施是遵循獨立監察審計委員會的建議，並與對事件型交易所日益增加的審查同步。此監督的主要機制是一個風險評分框架，根據公司表現、國家安全影響和結果集中度等標準對市場進行評估。如果某個市場超過特定的風險閾值，參與者必須透過線上表單披露其雇主。此措施旨在識別並排除「推定內部人士」——即持有重大非公開資訊的人員——執行交易。此類政策是對該行業記錄在案的非法活動所做的回應，包括一名 Google 員工在競爭對手 Polymarket 上的欺詐交易，以及涉及前國會議員 George Santos 的調查。

Beyond disclosure requirements, Kalshi has expanded its surveillance capabilities through the introduction of 24/7 whistleblower tools and internal alerting controls. These institutional enhancements are intended to align the platform with the regulatory expectations of the Commodity Futures Trading Commission (CFTC) and to differentiate Kalshi from competitors operating outside U.S. jurisdiction. The company's enforcement data indicates a proactive approach to policing; Kalshi reports having initiated over 150 investigations this year, blocked more than 100 potential insider trades, and referred over 20 cases to law enforcement agencies. Furthermore, the platform has previously penalized political candidates for trading on their own electoral outcomes, a practice the firm categorized as political insider trading.

除披露要求外，Kalshi 還透過引入 24/7 舉報工具和內部警報控制，擴展了其監控能力。這些制度上的強化旨在使平台符合商品期貨交易委員會 (CFTC) 的監管期望，並將 Kalshi 與在美國司法管轄區之外運營的競爭對手區分開來。該公司的執法數據表明其採取主動監管方式；Kalshi 報告稱今年已發起 150 多次調查，攔截了 100 多起潛在的內幕交易，並將 20 多起案件移交給執法機關。此外，該平台此前曾懲罰政治候選人對其自身的選舉結果進行交易，公司將此行為歸類為政治內幕交易。

Conclusion

Kalshi has transitioned toward an institutional-grade infrastructure to ensure market integrity and regulatory compliance.

Kalshi 已向機構級基礎設施轉型，以確保市場誠信與監管合規。

Vocabulary Learning

The Architecture of Institutional Precision

To bridge the gap from B2 to C2, a student must move beyond communicative competence and master stylistic calibration. The provided text is a masterclass in Nominalization and Formal Collocations, specifically within the realm of corporate-regulatory discourse.

◈ The 'Nominalization' Pivot

At the B2 level, a writer might say: "Kalshi introduced new rules because they want to stop people from trading on inside information."

At the C2 level, the text transforms actions (verbs) into complex concepts (nouns). This creates a 'dense' academic texture that conveys authority and objectivity:

"The implementation of these protocols..." (Instead of "Implementing these rules")
"...to mitigate insider trading risks" (Instead of "to lower the risk of insider trading")
"...institutional enhancements are intended to align..." (Instead of "They improved the institution to fit in with")

Why this matters for C2: Nominalization allows the writer to pack more information into a single sentence without losing clarity, transforming a simple narrative into an analytical report.

◈ Lexical Precision: The 'High-Value' Collocations

C2 mastery is signaled by the use of precise pairings that are native to specific professional registers. Note the surgical precision of these clusters in the text:

C2 Collocation	Semantic Nuance
Material, non-public information	The legal gold standard for defining 'insider' data.
Presumptive insiders	Indicates a state of assumption based on evidence, avoiding premature legal judgment.
Institutional-grade infrastructure	Suggests a level of quality and security suitable for the highest tiers of finance.
Outcome concentration	A technical term describing the clustering of results in a specific area.

◈ Syntactic Sophistication: The 'Conditional-Causal' Link

Observe the transition: "Should a market exceed a specific risk threshold, participants are required to..."

This is an inverted conditional. Instead of the standard "If a market should exceed...", the author uses the inversion to elevate the tone. This structure is a hallmark of formal English, often found in legal contracts and high-level academic papers, providing a level of formality that B2/C1 learners rarely employ.

Vocabulary Learning

mitigate (v.)

To make something less severe, serious, or painful.

Example:The company implemented new security protocols to mitigate the risk of a data breach.

scrutiny (n.)

Critical observation or examination of a subject.

Example:The government's new tax policy has come under intense scrutiny from economic analysts.

preclude (v.)

To prevent from happening; to make impossible.

Example:The strict new regulations preclude the possibility of unauthorized trading within the firm.

presumptive (adj.)

Based on probability or presumption; assumed to be true in the absence of proof to the contrary.

Example:The legal team identified him as the presumptive heir to the estate before the will was officially read.

illicit (adj.)

Forbidden by law, rules, or custom.

Example:The authorities cracked down on the illicit trade of counterfeit luxury goods.

jurisdiction (n.)

The official power to make legal decisions and judgments over a specific area or person.

Example:The court ruled that the case fell outside its jurisdiction because the incident occurred in another state.

proactive (adj.)

Creating or controlling a situation by causing something to happen rather than responding to it after it has happened.

Example:Taking a proactive approach to health, she exercised daily and maintained a balanced diet.

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