Repetitive fixed-size trades dominate Kalshi's Bitcoin and Ether perpetual volumes

Data analyzed by CoinDesk reveals an unusual trading pattern on prediction market platform Kalshi in its crypto perpetuals markets. A single recurring trade size of $5,499 accounted for 57% of the sampled volume in Ether perpetuals. Similarly, repetitive trade sizes of $2,500 and $5,000 together made up 54% of sampled Bitcoin perpetual volume. The concentration of identical trade sizes raises questions about the nature and origin of the activity on the platform. CoinDesk has not identified who is responsible for the repetitive trades.