Kalshi Fines Three US Congressional Candidates for Predicting Own Election

BlockBeats News, April 23, the prediction market platform Kalshi recently fined and suspended three US congressional candidates for five years for illegally predicting the outcomes of their own campaigns.

Involved candidates: Mark Moran, Senate candidate from Virginia; Matt Klein, House of Representatives candidate from Minnesota; Ezekiel Enriquez, House of Representatives candidate from Texas.

The incident resulted in Mark Moran being fined $6,229 and required to return the related trading profits; Matt Klein was fined $540; Ezekiel Enriquez was fined $784. All three candidates are prohibited from using the Kalshi platform for five years.

Afterwards, Moran claimed he intentionally violated the rules to expose potential platform corruption; Klein stated that he did it out of curiosity and has cooperated with the penalty. Kalshi stated that any candidate transaction, regardless of the size, that can influence market outcomes is considered a violation. Recently, both this platform and its competitor Polymarket have strengthened their controls on insider trading.