U.S. Rep. Don Davis introduced the « No Betting on Your Own Race Act » on October 5, 2026, proposing a minimum $10,000 civil penalty—or three times net gains—for federal candidates trading on prediction markets tied to their own elections. The bill was prompted by the case of Republican challenger Laurie Buckhout, who paid approximately $2,600 and received a three-year suspension from Kalshi after trading contracts related to her own candidacy. Current restrictions rely on voluntary platform policies rather than law, and this legislation aims to address that gap by covering all federal candidates and their immediate family members.
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