CFTC Investigates Former Representative Adam Kinzinger Over Kalshi Betting

The U.S. Commodity Futures Trading Commission (CFTC) is investigating whether former Representative Adam Kinzinger engaged in improper trading on the prediction market Kalshi. Reports indicate that an account linked to Kinzinger traded contracts regarding his own potential presidential pardon and President Joe Biden's potential pre-emptive pardons between December 2024 and January 2025. Kinzinger denied using insider information, stating he made approximately 25 trades with a total profit of 823 dollars and believed he was in compliance with Kalshi's rules.