Everyone is talking about Kalshi’s $5B $ETH perp volume.

But the bigger question is simpler:

Can you verify the activity?

Nearly 1M trades reportedly clustered around the same ~$5,500 size.

Kalshi says it was market-making activity, not wash trading.

Nothing is proven yet.

This is where @Polymarket ‘s model gets interesting.

When trading happens on-chain, the activity leaves a public record.

You can look at the transactions and see what actually happened.

Different markets use different systems.

But one thing stays important:

Can the activity be independently checked?

#Polymarket #Predictionmarket #Kalshi