Kalshi Fines and Suspends 3 Political Candidates for Betting on Their Races

The prediction market said the candidates violated new rules. The platform and its competitors face growing scrutiny from lawmakers and regulators over how political betting is policed.

Kalshi has sanctioned three political candidates for trying to make trades on their own races, a move that could signal increased scrutiny by the popular prediction market as the platform and similar companies face mounting pressure to self-police or risk greater regulation.

The three candidates were Mark Moran, an independent running for U.S. Senate in Virginia, Ezekiel Enriquez, a former Republican congressional candidate in Texas, and Matt Klein, a Democratic Minnesota state senator who is running for Congress, according to disciplinary action letters on Kalshi’s site. Mr. Enriquez tried to make a trade in his race, Kalshi said, but was preemptively blocked.