Three congressional candidates are accused of betting on their own elections through the prediction market Kalshi. On Wednesday, Kalshi said it fined and suspended the men for five years. It is the latest case to highlight ongoing concerns about insider trading on prediction markets like Kalshi and Polymarket. The accused include Mark Moran, running as an independent in Virginia; Zeke Enriquez, a former Texas Republican primary candidate; and Matt Klein, a Democratic state senator in Minnesota. Moran admitted to betting $100 on himself. He was fined $6,200, while Klein and Enriquez settled for smaller penalties.
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