Every Zipp story tagged #WashTrading, newest first.
The shift to targeted promotions comes as Kalshi posts record volume and pursues a reported $40B valuation, raising questions about how much activity incentives sustain.
The findings challenge gross turnover as a measure of demand, but do not establish how much Solana DEX liquidity independent traders can actually access.
The dispute centers on whether payout-based volume conventions explain Kalshi's $539M figure, or whether fee incentives enabled artificial activity.
The dispute centers on roughly $539M in 24-hour ETH-PERP volume against $3.1M in open interest, while Kalshi defends its market-making incentives.
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