Laurie Buckhout receives a three-year suspension from Kalshi for betting on her own congressional campaign, marking a significant enforcement of trading regulations.
Summary
- Laurie Buckhout, a Republican congressional candidate from North Carolina, faces a three-year suspension from Kalshi for betting on her own race.
- She placed contracts worth under $1,000 and is fined $2,589.96 after cooperating with the investigation.
- Former Representative George Santos received a lifetime ban and a $71,356 fine for not cooperating during a similar investigation.
Kalshi, a platform for prediction markets, has suspended Laurie Buckhout, a Republican candidate for the House from North Carolina, for three years due to her involvement in trading contracts on her own election. This decision was announced in a settlement notice on Monday.
Buckhout, who launched her campaign for North Carolina's 1st Congressional District in December 2025, engaged in contract trading concerning her race against Democratic incumbent Don Davis, with her total bets being under $1,000. Kalshi's regulations classify candidates as decision-makers regarding election outcomes, thus prohibiting such trades.
The suspension is effective immediately, barring Buckhout from any participation in Kalshi for three years. She will also pay a fine exceeding her initial investment, totaling $2,589.96. Kalshi acknowledged her cooperation during the investigation.
In a statement to The Hill, Buckhout expressed regret over her actions, stating, "I bet on myself. Literally. It was a dumb mistake," and mentioned she took corrective measures once the issue was brought to her attention. Kalshi declined to comment further on the matter.
Previous Penalties
Buckhout is the fourth candidate penalized by Kalshi for similar infractions. Previously, Minnesota state Senator Matt Klein, former Texas congressional candidate Ezekiel Enriquez, and Virginia Senate candidate Mark Moran received five-year suspensions for betting on their own races, with fines ranging from $539.85 to over $6,000.
In a related case, George Santos was permanently banned from Kalshi and fined $71,356 for trading related to his attendance at the State of the Union address, noted for his lack of cooperation.
Kalshi operates under the oversight of the CFTC and has experienced substantial trading volume, competing closely with Polymarket. The CFTC has also recently penalized individuals for trading based on insider information regarding presidential speeches and political events. In response, Kalshi has implemented measures to prevent future conflicts of interest.
Buckhout won her Republican primary in March and is preparing to face Davis again, having narrowly lost to him in the previous election cycle. The 1st District was redistricted by state Republicans last fall, with current analyses indicating a Republican advantage in the upcoming race.
