House Democrat moves to ban candidates from trading prediction markets on their own races
- —The 'No Betting on Your Own Race Act' was introduced during a pro forma House session
- —Penalties would be $10,000 or three times net trading gains, whichever is larger
- —Buckhout paid Kalshi just under $2,600 and was suspended for three years
- —Less than a month remains before the U.S. midterm elections
Why it matters: The bill would codify rules Kalshi and Polymarket already enforce, but it cannot pass before this election cycle.
Source: CNBC Crypto