Kalshi Takes Action Against Insider Trading Involving MrBeast Employees and a California Politician
The prediction market platform Kalshi has recently intensified its efforts against insider trading, announcing fines and suspensions for multiple users, including an editor for YouTuber MrBeast and a former gubernatorial candidate from California. Following allegations of insider trading linked to upcoming video content from MrBeast, Kalshi fined the editor $20,000 and suspended their account. The Commodity Futures Trading Commission (CFTC) has also issued an advisory highlighting the risks of insider trading within prediction markets. Kalshi has vowed to continue its crackdown, disclosing actions taken against other violators and affirming its commitment to maintaining fair trading practices.
Commodity Futures Trading Commission | CFTC (.gov), Kalshi, NPR, WSJ, Yahoo Finance, Axios, WIRED, BBC, Bloomberg.com, The Hollywood Reporter