Don Davis, a North Carolina lawmaker, introduced the No Betting on Your Own Race Act, prohibiting federal candidates, their campaigns, spouses and children from buying, selling or holding contracts related to their own elections. The legislation proposes a $10,000 civil penalty per violation or three times any potential financial gain. This bill will not be addressed before the 2026 midterm elections, as Congress is on recess until November. Republican House candidate Laurie Buckhout received a three-year suspension and a $2,590 penalty from Kalshi for trading event contracts related to her own race.
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