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FollowingForecast Markets Kalshi suspends North Carolina Republican House candidate Laurie Buckhot for three years
According to a settlement notice released Monday, Forecast Markets Kalshi has imposed a three-year trading suspension on North Carolina Republican House candidate Laurie Buckhot for betting on her own election.
The notice shows that Buckholt launched a campaign in North Carolina's 1st Congressional District in December 2025 and spent less than $1000 to purchase a contract to compete with her against Democratic Rep. Don Davis. As a candidate, she belongs to the person with direct decision-making power on the outcome of the competition, which violates Rule 5.17(z) of the Exchange Rule Book regarding trading.
The settlement agreement came into effect last Friday. The agreement banned the retired army colonel from trading in Kalshi for three years and imposed a fine of $2,598.96, more than double the amount she bet. Kalshi's compliance department said she cooperated in the investigation.
Buckhot admitted the bet to the Capitol Hill. "I bet on myself winning. Really. It was a stupid mistake,"she said, adding that once she learned there was a problem, she tried to correct it. A spokesman for Kalshi declined to comment further to the media.
Buckholt is at least the fourth candidate to be punished by the exchange for trading his own game. Earlier in 2026, Kalshi suspended Minnesota Senator Matt Klein, former Texas congressional candidate Ezekiel Enriquez and Virginia Senate candidate Mark Moran from trading for five years after all admitted betting on their campaigns. Klein paid $539.85, Enriquez paid $784.20, and Moran, who refused to settle, was fined $6,229.30.
Earlier this week, Kalshi permanently banned former Rep. George Santos from trading and fined him $71356 for trading in his presence at the State of the Union, citing the same ban on trading affecting results. Santos was also named for failing to cooperate with the investigation.
Kalshi is an exchange regulated by the U.S. Commodity Futures Trading Commission (CFTC), and its crypto-native competitor Polymarket has attracted billions of dollars in trading volume over the past year.
Last week, the CFTC fined a former White House teleprompter operator $172,000 for using prior knowledge of the president's speech to trade. A U.S. soldier has been charged with allegedly trading on Polymarket in connection with the operation to overthrow Venezuelan leader Nicolas Maduro, and a MrBeast video editor has been fired during the Kalshi investigation. Since then, the exchange has introduced new security measures.
Buckhot won the Republican primary in March and will face Davis again, whom she lost by less than two percentage points in 2024. Republicans in the state Legislature redistricted the 1st District last fall, and the Cook Political Report rated the seat as leaning Republican.
