Candidates Punished for Betting on Their Own Races on Kalshi

The prediction market said the candidates violated new rules as it faces growing scrutiny from lawmakers and regulators over how political betting is policed.

By Lauren McGaughy and Campbell Robertson

Prediction site Kalshi fines three US candidates who bet on own election races

Disclosures come after firm tightened rules on insider trading, including candidates betting on own campaigns Before he announced his Senate candidacy, a political hopeful in Virginia did something not so unusual in this day and age: he logged on to a prediction market exchange and wagered money that he would run. Then he ran. Then he bet on that too. The candidate and trader was Mark Moran, a former FBoy Island contestant who went viral recently for his campaign launch video. Investigators w...

By Joseph Gedeon in Washington

Prediction market Kalshi docks three US candidates for betting on own races

Penalties come amid calls for greater oversight; company pledges to proactively police 'insider trading' on platforms.

Kalshi prediction site suspends three political candidates for betting on their own races - CNN

Kalshi prediction site suspends three political candidates for betting on their own races  CNN

Kalshi suspends, fines 3 congressional candidates in 'insider trading' enforcement actions

The incidents involved a candidate from Virginia seeking a Senate seat and two men running for House seats from Minnesota and Texas.

Kalshi Bans And Fines Three Politicians For Placing Bets On Their Own Races - Forbes

Kalshi Bans And Fines Three Politicians For Placing Bets On Their Own Races  Forbes

Kalshi suspends 3 political candidates for trading on their own elections

Kalshi said it had issued fines and given a five-year suspension to 3 political candidates who made trades related to their own elections. Davide Bonaldo/SOPA Images/LightRocket via Getty Images Kalshi says it suspended and fined 3 political candidates who bet on their own races. That included Democratic candidates in Minnesota and Virginia, plus a Republican in Texas. It comes as Kalshi has moved to crack down on insider trading on their platform. Kalshi says it has found some more insider...