Regulator Investigates Kinzinger Over $823 Kalshi Pardon Trades

2 articles · Updated · The New York Times · Oct 1

Adam Kinzinger said a financial regulator is examining his Kalshi bets on whether he would receive a presidential pardon and whether Joe Biden would issue preemptive pardons.
Screenshots Kinzinger provided show he made $823 on those trades; he said he placed about 25 trades overall at the time and mostly lost money.
Kinzinger said he was out of office for two years, was neither a congressman nor candidate, and had no inside information or White House contacts when he made the wagers.
The CFTC and Kalshi declined to comment, and Kinzinger said neither the agency nor the prediction market platform has contacted him about the investigation.
The case puts fresh scrutiny on event-contract trading tied to politically sensitive outcomes involving a former Illinois Republican who has repeatedly clashed with Trump.