Kalshi Says Campaign Staff Still Trying to Bet on Races
Prediction markets platform Kalshi says political staffers are still trying to place bets on races in which they’re involved despite the company’s internal efforts to ban the practice, reports NPR.
Robert DeNault, Kalshi’s head of enforcement and legal counsel, told the news outlet that his team has blocked many campaign trades using Federal Election Commission data.
“If we’re able to identify a potential match, we have markets that are associated with each of the campaigns that are flagged, and those individuals would be prevented from placing trades on those markets,” he said.
One campaign operative told NPR they were still able to trade on a race they were involved in.
Kalshi in April suspended three U.S. congressional candidates for “political insider trading,” including Democratic Minnesota state Sen. Matt Klein, who was seeking the nomination to run for the U.S. House of Representatives seat representing his state’s 2nd district; Republican Ezekiel Enriquez, who lost his party’s nomination for the U.S. House seat representing the 21st Congressional District in Texas; and Mark Moran, an independent running for the U.S. Senate in Virginia.
Moran admitted to having bet $100 on himself, saying he wanted to get caught.
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