Kalshi Bans Republican Candidate Laurie Buckhout for Betting on Own Election

Prediction market platform Kalshi suspended Republican congressional candidate Laurie Buckhout for three years and fined her $2,589.96 for wagering on her own campaign. Buckhout, a retired U.S. Army colonel and former Assistant Secretary of Defense for Cyber Policy, placed trades totaling less than $1,000 on her bid to unseat Democratic U.S. Rep. Don Davis in North Carolina’s 1st Congressional District.

Kalshi's compliance department determined that Buckhout violated rules prohibiting decision makers or individuals with direct influence over an event's outcome from trading on related contracts. Buckhout admitted the trades were a "dumb mistake" and stated she worked to rectify the issue once she learned there was a problem.

Incumbent Congressman Don Davis condemned the activity as a "disqualifying breach of public trust." Davis argued that Buckhout treated the election as an opportunity to "cash in" while constituents in eastern North Carolina struggle with the costs of housing, groceries, and healthcare. The two candidates are scheduled to face each other in the general election this November.