Kalshi Bans GOP House Candidate for Betting on Her Own Race

Kalshi, a prediction market platform, has taken action against Republican House candidate Laurie Buckhout for betting on her own race. According to Kalshi's disciplinary notice, Buckhout bought less than $1,000 in contracts related to her candidacy in North Carolina's 1st Congressional District.

The fine imposed by Kalshi is $2,589.96, more than the bet itself. This comes as part of Kalshi's efforts to curb insider trading on its platform. In June, Kalshi introduced three market integrity measures to address this issue.

Buckhout cooperated with Kalshi's inquiry and accepted the findings, agreeing to a 3-year ban from trading on the platform.