it basically means "stop lying", "I don't care" and "fuck off/fuck you" depending on the phrase it's used at.
first time used by two students (Z.Yacine and Y.Abdelfettah - around 2020) when they were looking for a way to insult their professor without him being aware of it, later on it became their way of insulting everyone, then the word caught others' attention and a variety of other students started using it.
origin of the word is ترخÙ
person 1 : believe me bro, I tried did my best but did not work
person 2 : chisme.
or
professor : you have to solve all these eauqtions by tomorrow, if not you get an F.
student ; Sir, chisme.