Kalshi Files to End Its Volume Incentive Program

WHY IT MATTERS

Prediction markets are platforms where people can place trades based on whether they think a real-world event will happen — like whether it will rain on a certain day or who will win an election. Think of it like a stock market, but instead of buying shares in a company, you are trading on outcomes of events. A volume incentive program is similar to a loyalty rewards program at a store: the more you trade, the more perks you get, such as lower fees. These programs help attract traders and keep the platform active. When a platform decides to end such a program, it can change how much activity the platform sees, similar to how a store might see fewer shoppers if it stops offering discounts. This story is notable because Kalshi is one of the few prediction markets regulated by U.S. authorities, making its business decisions relevant to the broader conversation about how event-based trading platforms operate.