Malin 1 is the largest known low surface brightness (LSB) galaxy, the archetype of so-called giant LSBs. The structure and the origin of such galaxies are still poorly understood, especially due to the lack of high-resolution kinematics and spectroscopic data. We use emission lines from spectroscopic observations of Malin 1 aiming to bring new constraints on the internal dynamics and star formation history of Malin 1. We have extracted a total of 16 spectra from different regions of Malin 1 and calculated the rotational velocities of these regions from the wavelength shifts and star formation rates from the observed H$alpha$ emission line fluxes. We compare our data with existing data and models for Malin 1. For the first time we present the inner rotation curve of Malin 1, characterized in the radial range r < 10 kpc by a steep rise in the rotational velocity up to at least 350 km/s (with a large dispersion), which had not been observed previously. We use these data to study a suite of new mass models for Malin 1. We show that in the inner regions dynamics may be dominated by the stars (although none of our models can explain the highest velocities measured) but that at large radii a massive dark matter halo remains necessary. The H$alpha$ fluxes derived star formation rates are consistent with an early-type disk for the inner region, and with the level found in extended UV galaxies for the outer parts of the giant disk of Malin 1. We also find signs of high metallicity but low dust content for the inner regions.
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