Kalshi suspends and fines congressional candidates Mark Moran of Virginia, Matt Klein of Minnesota, and Ezekiel Enriquez of Texas for political insider trading
Prediction market platform Kalshi said Wednesday it had suspended and fined three candidates for Congress from Minnesota …
CNBC Dan Mangan
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Discussion
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@itsmarkmoran
@itsmarkmoran
on x
Finally, one of the moments I've been waiting for. YES, I did bet ~$100 on myself on Kalshi because I wanted to get caught... After discovering potential manipulation on polymarket in the NYC mayoral race (NY Post reported on this) I realized how rife with corruption kalshi [imag…
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@scottmstedman
Scott Stedman
on x
The integrity of everything is at stake. Elections, sports, the Oscars, SEC reporting. Everything. When there is a huge financial incentive to cheat, people will cheat. These gambling platforms are a cancer.
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@drmattkleinmn
Dr. Matt Klein
on x
[image]
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@brendanpedersen
Brendan Pedersen
on x
New: CFTC spokesperson Brooke Nethercott tells me: “Exchanges serve a vital purpose as self-regulated organizations. The CFTC has a zero tolerance policy for anyone attempting to break the law, and we're pleased to see action taken to protect the integrity of our markets”
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@dustingouker
Dustin Gouker
on x
If “insider trading is illegal” as I keep hearing, then the candidate who bet on whether he would run needs to face more serious repercussions than a fine and a suspension levied by Kalshi itself.
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@bobbyallyn
Bobby Allyn
on x
Kalshi kept the candidates accused of betting on their own campaigns unnamed in their press release, but the company named them in regulatory filings to the CFTC.
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@icobeast
@icobeast
on x
For everyone asking how do you deal with insider trading at a prediction market exchange like Kalshi - this is how. Mr Denault's team is top notch and we're extremely proactive about providing fair markets to all Kalshi users
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@robertjdenault
@robertjdenault
on x
Today, we're releasing notices related to three enforcement investigations. All three cases concern political insider trading and were flagged because of our newly released safeguards to block political candidates from trading on their own elections. Kalshi does not tolerate
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@marshallcohen
Marshall Cohen
on x
NEW: @Kalshi suspended 3 users for “political insider trading,” after internal probe found they bet on their own campaigns. Biggest crackdown yet against political candidates, with 2026 midterms underway and lawmakers worried about election integrity https://www.cnn.com/...
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@brendanpedersen
Brendan Pedersen
on x
Kalshi just put out a press release saying they caught three instances of candidates for public office betting on / against themselve in Minnesota, Texas and Virginia [image]
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@jakesherman
Jake Sherman
on x
The Virginia one is wild. Someone bet on themselves to run for Senate and then announced they would run for Senate.
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@metzgov
Bryan Metzger
on x
Kalshi says it caught 3 political candidates trading on their elections, including: - MN-2 Dem primary candidate, fined $539.85 - TX-21 GOP primary candidate, fined $784.20 - VA-SEN Dem primary candidate, fined $6,229.30 They were each suspended from Kalshi for 5 years. [image]
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Kalshi suspends, fines 3 congressional candidates in ‘insider trading’ enforcement actions
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Kalshi suspends, fines 3 congressional candidates in ‘insider trading’ enforcement actions
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Kalshi suspends, fines 3 congressional candidates in ‘insider trading’ enforcement actions
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Kalshi suspends, fines 3 congressional candidates in ‘insider trading’ enforcement actions
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Kalshi prediction site suspends three political candidates for betting on their own races