Kalshi Bans GOP House Candidate for 3 Years After Self-Betting Incident
Prediction market Kalshi has banned Republican House candidate Laurie Buckhout for three years after she placed bets on her own candidacy in North Carolina's 1st Congressional District. The ban and a fine of $2,589.96 were imposed by the platform after an investigation found that Buckhout had traded contracts related to her own race.
Buckhout is challenging Democratic Representative Don Davis in the district, and her bet was worth less than $1,000. However, she agreed to pay a penalty that exceeded the amount of the wager itself.
Kalshi's rule 5.17(z) bars any trader with direct or indirect influence over an event from trading that contract. The platform stated that Buckhout cooperated with its inquiry and accepted the findings.
'I bet on myself. Literally. It was a dumb mistake, and as soon as I learned there was an issue, I worked to make it right,' Buckhout said in response to the ban.