Kalshi contract trading wash trading? Statements by the head of Kalshi's crypto division draw criticism from Polymarket team members.

According to a recent CNBC report, Kalshi's perpetual contracts surpassed $1 billion in trading volume within a week of their launch. John Wang, head of Kalshi's crypto division, subsequently posted on the X platform, stating, "Kalshi Perps reached $1 billion in trading volume within a week of its launch, and this product has not even been publicly released." He also pointed out that it took the prediction market 3.5 years to reach the same trading volume. Mustafa Aljadery, a member of the Polymarket team, appeared in the comments section to congratulate Kalshi and inquired about the perpetual contract OI (Open Interest) data, seemingly implying that Kalshi was inflating its trading volume. Furthermore, many community members in the comments section expressed skepticism about the data, emphasizing that it might be data from zero-fee or leveraged trading, with some pointing out that Kalshi's OI data is only around $4.5 million.