Odaily Planet Daily report: The prediction market exchange Kalshi has suspended Laurie Buckhout, a Republican candidate for the U.S. House of Representatives from North Carolina, from trading for three years due to her trading on a contract related to her own congressional election. The settlement took effect on Friday, and she is also required to pay a fine of $2,589.96.
During his campaign against Democratic Representative Don Davis for North Carolina’s 1st Congressional District, Buckhout purchased contracts worth less than $1,000. Under Kalshi’s rules, candidates are considered individuals with direct decision-making influence over the outcome and are prohibited from trading related contracts.
Kalshi previously suspended Matt Klein, Minnesota state senator; Ezekiel Enriquez, former Texas congressional candidate; and Mark Moran, Virginia state senate candidate, for five years each for betting on their own elections. Former Representative George Santos was permanently banned and fined $71,356 for trading on contracts related to his attendance at the State of the Union address.
Buckhout won the Republican primary in March and will face Don Davis again; she narrowly lost to him in 2024 by less than two percentage points. Kalshi, regulated by the U.S. Commodity Futures Trading Commission (CFTC), has seen trading volumes in the billions of dollars over the past year. (Decrypt)