According to CoinMeta, Kalshi announced that it will end its trader volume incentive program one year ahead of schedule. This program paid traders a share of a fixed bonus pool based on their trading volume. The termination will take effect on October 13, 2026, which is earlier than the original date of October 1, 2027. No reason was given in the notification, but a rule from Kalshi was cited, which allows exchanges to decide on their own to end incentive programs. The program was first proposed in February 2023 with the aim of incentivizing trading, increasing trading volume, and improving pricing efficiency. Each eligible market had a fixed trading volume reward, which was distributed according to the proportion of eligible trading volume by traders on the central limit order book. Transactions of event contracts were only counted when the price was between 3 and 97 cents, with a maximum reward of half a cent per contract. A week after the notification was released, analyst Beni pointed out that in Kalshi's Ethereum permanent contracts, transactions amounting to exactly $5,500 accounted for about half of the total trading volume. The Wall Street Journal subsequently reported that CFTC was reviewing these transactions to decide whether to initiate an enforcement investigation. Kalshi denied accusations of wash trading and stated that its market makers were paying for static liquidity fees, not trading volume incentives.