Representative Don Davis (D-NC) has introduced a bill barring federal candidates from trading prediction market contracts on their own elections. Violations would carry a civil fine of $10,000 or three times any financial gain, whichever is greater. The No Betting on Your Own Race Act would also cover spouses, dependent children and authorized campaign committees. Trading platforms would receive immunity from liability for closing accounts, voiding positions and reporting suspected violations. Kalshi has already fined multiple congressional candidates this year for betting on their own races, and the CFTC is separately investigating former Representative Adam Kinzinger over trades tied to his own presidential pardon.
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