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Kalshi fines three American congressional candidates predicting their own campaigns
BlockBeats News, April 23 — Prediction market platform Kalshi recently fined three U.S. congressional candidates and suspended their access for five years for violating rules by predicting the outcomes of their own campaigns.
The involved candidates: Virginia Senate candidate Mark Moran, Minnesota House candidate Matt Klein, and Texas House candidate Ezekiel Enriquez.
As a result, Mark Moran was fined $6,229 and required to return related trading profits; Matt Klein was fined $540; Ezekiel Enriquez was fined $784. All three are banned from using the Kalshi platform for five years.
Afterward, Moran stated that he intentionally violated the rules to expose potential corruption on the platform; Klein said he was curious and tried it out, and has cooperated with the penalty. Kalshi stated that any candidate trades that can influence market outcomes, regardless of trade size, are considered violations. Recently, both the platform and competitor Polymarket have strengthened insider trading controls.