FBI · NPR Technology
Kalshi taps former FBI agent to fight against money laundering
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Sean Fern, a former FBI agent, is joining the prediction market platform Kalshi to lead the company's efforts in fighting money laundering.
Key facts
- According to the firm TickerTracker, Kalshi has crossed $260 billion in bets so far this year, already triple the amount traded in all of 2025
- The company, which PitchBook estimates to be worth around $40 billion, has 250 employees, and it plans to double its headcount over the next six months
- Sean Fern, a former FBI agent, is joining the prediction market platform Kalshi to lead the company's efforts in fighting money laundering
- Sean Fern will work closely with law enforcement, regulators and senior staff at Kalshi to keep an eye on suspicious and potentially criminal activity there
Summary
Kalshi, a leading prediction market company, has hired a former FBI agent to run its first anti-money laundering team as prediction markets come under increasing legal scrutiny by state and federal regulators. Sean Fern will work closely with law enforcement, regulators and senior staff at Kalshi to keep an eye on suspicious and potentially criminal activity there. According to the firm TickerTracker, Kalshi has crossed $260 billion in bets so far this year, already triple the amount traded in all of 2025. Fern, who worked as a federal prosecutor in Brooklyn after his time at the FBI, said his aim is to build defenses against people trying to use the platform to commit financial crimes.