Kalshi imposes penalties on candidates for trading on their own races

Kalshi revealed it suspended and fined three congressional candidates from Minnesota, Texas, and Virginia for trading on their own campaigns, under new safeguards to block political candidates from market activity related to their elections. Virginia Democrat Mark Moran was fined $6,229.30 and banned from trading for five years after two trades tied to his candidacy; Minnesota Democrat Matt Klein traded a small amount on the outcome of his election and paid a $539.85 fine with a five-year ban; Texas Republican Ezekiel Enriquez traded a slightly larger amount and paid $784.20 with the same five-year ban. Klein and Enriquez cooperated with the probe, while Moran initially admitted the violation but later stopped communicating with Kalshi. CNBClink disclosures note a CNBC-Kalshi relationship but do not change the core report.