Prediction market platform Kalshi has announced a three-year trading suspension and a $2,589.96 fine for Laurie Buckhout, a Republican candidate for the U.S. House in North Carolina, for purchasing contracts related to her own election race.
Violation of Platform Rules
According to a settlement agreement effective August 28, Buckhout bought contracts worth less than $1,000 tied to her own candidacy, violating Kalshi's Rule 5.17(z), which prohibits trading by individuals with "direct or indirect influence" over outcomes.
"I did bet on myself, and it was a stupid mistake," Buckhout said in a statement. "Once I realized the issue, I immediately cooperated to correct it. You could say my career as a Kalshi trader was short-lived."
Kalshi said Buckhout cooperated with the investigation and agreed to the penalty.
Previous Cases and Candidate Background
Earlier, Kalshi imposed similar penalties on Minnesota state senator Matt Klein, former Texas congressional candidate Ezekiel Enriquez, and other politicians who bet on their own campaigns.
Buckhout, a retired Army colonel and former Deputy Assistant Secretary of Defense for Cyber Policy, is challenging Democratic incumbent Rep. Don Davis in a rematch of their 2024 race, where Davis won 49.5% to 47.8%. The North Carolina General Assembly redrew the district last year to make it more favorable for Republicans, and the Cook Political Report rates the seat as "Lean Republican."