CFTC Investigating Adam Kinzinger Over Kalshi Bets on His Own Pardon: Report

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Users of Kalshi and other prediction-market platforms may notice that trades tied to a public figure’s own pardon are now under CFTC review, which puts more attention on how those markets are used. The matter also affects Kinzinger personally today, because the inquiry is focused on trades he says totaled $823 and that he says were made after he checked the platform’s rules.

In practice, the case shows that a linked account’s activity on a pardon-related market can still be examined even when the trader says he had no material nonpublic information. It also leaves the surrounding trading history in place: about 25 transactions tied to a possible pardon and Joe Biden’s preemptive pardons are part of the record.