Kalshi saw 598,464 contracts on Cardinals' No. 3 pick, Gambling Insider reports
Gambling Insider's review of Kalshi trade records shows Jeremiyah Love's third-pick contract drew the heaviest volume of 38 players, at 598,464.
By Iris Calder, Payments and technology editor
- Kalshi's public trade data shows 598,464 contracts tied to Jeremiyah Love as the Cardinals' third overall pick, the largest count among 38 players, according to Gambling Insider.
- Love's contract moved to 99 cents at 8:22:36 p.m. ET on draft night, after a final full minute in which it ranged between 26 and 45 cents.
- Roughly 9% of Love's contract volume changed hands once the selection was public, at prices close to 99 cents.
Kalshi's public trade data, analysed by Gambling Insider, shows 598,464 contracts tied to Jeremiyah Love as the third overall pick in the 2026 NFL draft, the largest count among 38 players. The Arizona Cardinals selected Love at No. 3 on 23 April.
What happened
Kalshi's market on the third pick listed a separate contract for each of 38 players. Across them, 2.3 million contracts traded, and Love's volume made up 26% of the total, Gambling Insider reported. Arvell Reese had 528,023. On Polymarket, $141,295 was traded across the players in the market for that pick, of which $36,143 was on Love.
Trading was light for most of the market's life. According to the report, 88% of Love contracts changed hands between 20 April and 23 April, and 72% on draft day itself. Roughly 9% of Love's volume traded once the selection was public, at prices close to 99 cents.
In the final full minute before the jump, which began at 8:21 p.m. ET, prices ranged between 26 and 45 cents and ended at 27. A trade at 99 cents followed at 8:22:36 p.m. Gambling Insider said the data does not show the identity of any trader, and that it does not suggest any trade was improper.
The Commodity Futures Trading Commission (CFTC) did not respond to Gambling Insider's request for comment.
Mike Caspino, who represents Gold, has said that Gold had no knowledge of the picks and that Gold's wife placed the parlays. His appeal was scheduled for 23 September, and no decision had been announced as of 13 October. Gambling Insider said Gold has not been publicly connected with trades on either Kalshi or Polymarket.
Why it matters
Operators and suppliers that list or support sports event contracts could need to check how they would show integrity monitoring if asked, particularly for markets on outcomes that insiders could know in advance.
Which regulator ends up overseeing these contracts is likely to shape compliance costs, licensing exposure and the integrity controls that partners, including affiliates promoting prediction market brands, could be asked to support.
The case also shows how little the public record reveals. Trader identities are not visible in the data, and Gambling Insider said the public record does not show whether Kalshi or IC360, one of two firms the NFL uses to monitor betting, reviewed trading in the Love contract. Kalshi said IC360 would screen its sports markets, and the report said neither company has said whether that covered draft contracts.
Washington is also looking at the sector. The House Oversight Committee said in a release that its inquiry began in May 2026, and that representatives of Polymarket and Kalshi have given it five briefings and nearly 1,000 documents.
What's next
A decision on Gold's appeal had not been announced as of 13 October.
Sources
- 1.Comer Continues Investigation into Insider Trading on Online Prediction Market Platforms - United States House Committee on Oversight and Government Reform · oversight.house.gov (oversight.house.gov), accessed 13 Oct 2026Primary
- 2.States Review Sportsbook Draft Bets, But Not Kalshi’s 598,464 Contracts on Cardinals’ Pick · Gambling Insider (gamblinginsider.com), accessed 13 Oct 2026
Spotted an error? Read our corrections policy or contact the desk.
