What changed
Report: CFTC Eyes Unusual $5B Trading Pattern on Kalshi ETH Perpetuals Kalshi denies wash trading allegations, arguing that repeated transactions stemmed from how market markers' orders were executed
Why it matters
Regulatory risk around ETH can change volatility, liquidity, or sentiment. The concrete detail to watch is report: CFTC Eyes Unusual $5B Trading Pattern on Kalshi ETH Perpetuals
Trading lens
Use this as watchful context from cryptopotato.com. Watch whether kalshi denies wash trading allegations, arguing that repeated transactions stemmed from how market markers' orders were executed confirms momentum, invalidates active bias, or changes timing.