An editor for the YouTube streamer MrBeast and a former California governor candidate are the first two people revealed by prediction market Kalshi to face disciplinary actions for insider trading.
The company said it had opened 200 investigations into potential violations of its trading rules over the past year - over a dozen of which have become “active cases”.
Prediction markets have surged in popularity in the US, with companies like Kalshi and Polymarket letting users bet on everything from sports to politics. But concerns about wagers placed on inside information have proliferated.
Kalshi said it suspended the two users accused of violating its rules.
Isn’t that the betting site that the white house has been making its bitch? I seem to remember something about the bullshit barbie clearly gaming it.
Don jr is on the board. They had a bet that the SOTU would go to 111 minutes on kalshi. The SOTU rambled on for a painful 108 minutes.
I’m sure there is more than one fascist in DC who made serious cash on that bet