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Kalshi imposes five-year bans on three candidates over election trades

Rocky Affiliates reports Kalshi suspended Mark Moran, Ezekiel Enriquez and Matt Klein for five years after finding they traded on their own races, in bets typically under 100 dollars. Moran was fined more than 6,200 dollars after declining to settle, while Klein and Enriquez settled for about 539 dollars and 784 dollars.

Kalshi has suspended Mark Moran, Ezekiel Enriquez and Matt Klein for five years after finding that they traded on their own election races, according to Rocky Affiliates.

The bets were typically under 100 dollars, the outlet reported. All three candidates received the same suspension length, but their fines differed.

Settlements and fines

Moran declined to settle and was fined more than 6,200 dollars, according to Rocky Affiliates.

Klein and Enriquez settled for about 539 dollars and 784 dollars, respectively. The reporting distinguishes their settlements from Moran’s decision not to settle, but provides no further detail on how the amounts were determined.

What it means for prediction markets

  • The cases show Kalshi taking enforcement action against candidates trading on their own races, even where bets were typically under 100 dollars.
  • The five-year suspensions were identical across the three cases; the monetary penalties were not.
  • The available summary does not establish a broader penalty schedule or explain how settlement decisions affected the fines.
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