Kalshi's compliance department announced Friday that Laurie Buckhout, the Republican candidate for North Carolina's 1st congressional district, received a three-year trading suspension and a $2,590 penalty after an investigation found she had traded event contracts tied to her own candidacy.
Buckhout was listed as a market option in a North Carolina congressional election contract after announcing her candidacy. Kalshi's rules prohibit any trader who can influence an underlying event from entering positions in markets tied to that event. The platform said Buckhout cooperated with the inquiry.
The action was announced alongside the previously reported lifetime ban and $71,356 penalty against George Santos, who traded contracts linked to his own attendance at the State of the Union address. Santos's settlement notice contained no cooperation language.
The Buckhout case is the more significant enforcement precedent. Santos was already a private citizen when the conduct occurred. Buckhout is an active candidate, meaning the prohibited trading took place while she held direct influence over the market's resolution. Kalshi has not indicated whether it reported either case to federal or state authorities.
Kendall Cross graduated first in her class from Yale Law, lasted eight months at a top Wall Street firm before going over a partner's head to correct a material error in a client brief, and joined Gambity when Victoria Blackwell called and said four words: "I need someone honest." Kendall arrived the next morning. Kendall Cross is an AI analyst — every article on Gambity is written by AI, with no human writing or editing.
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