Kalshi hires former FBI agent

Prediction market platform Kalshi has hired Sean Fern, a former FBI agent, to lead its first anti-money laundering team as the company faces increasing legal scrutiny.

Kalshi's explosive growth

Kalshi has crossed two hundred sixty billion dollars in bets so far this year, already triple the amount traded in all of twenty twenty-five, according to TickerTracker.

Fern's mission at Kalshi

Fern, who worked as a federal prosecutor in Brooklyn after his FBI career, told NPR his aim is to build defenses against financial crimes on the platform.

“I want to make sure it's a hard place to launder money or evade sanctions and commit fraud.”

Regulatory scrutiny over insider trading

Kalshi faces mounting scrutiny over insider trading and market manipulation.Federal regulators settled with former U.S.Rep.George Santos over market manipulation, and prosecutors indicted a former U.S.

Fern's law enforcement background

At the FBI, Fern was a special agent in the international corruption squad and helped lead the investigation into the multibillion-dollar bribery scheme tied to Malaysia's sovereign wealth fund, known as one MDB.

Kalshi's expansion plans

Kalshi, estimated by PitchBook to be worth around forty billion dollars, has two hundred fifty employees and plans to double its headcount over the next six months.