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CFTC Opens Investigation Into Kinzinger’s Kalshi Trades

By Drooid · Sep 30, 2026, 9:56 PM UTC · How we work

Summary

CFTC Investigates Kinzinger

CFTC is investigating former Rep. Adam Kinzinger over Kalshi trades linked to his pardon.
Kinzinger placed the bets in December 2024 and January 2025 through a Kalshi account tied to him.
He earned $823 from about 25 contracts while most other trades lost money.
Kalshi is reviewing Kinzinger’s transactions after previously suspending three Democratic candidates for similar betting.
The CFTC’s broader legal fight includes suing states over who should regulate prediction markets.

Summary

Atkins Launches Innovation Exemption

SEC Chair Paul Atkins announced a five-year Innovation Exemption for tokenized securities venues on September 17.
The CLARITY Act failed in the Senate on September 15, halting comprehensive crypto market-structure legislation.
Hester Peirce will leave the SEC on October 2, leaving only two Republican commissioners, Paul Atkins and Mark Uyeda.
SEC issued FAQs on September 25 clarifying token buybacks, marketing and staking under securities law.

History

Historical Context

Founded in Dublin in 1999, Intrade grew to over 82,000 members before the CFTC sued it in November 2012 and forced a U.S. shutdown on 10 March 2013. The case set a precedent that today guides regulators as they examine newer platforms such as Kalshi, the New-York-based prediction market launched in July 2021 for financial innovation.

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CFTC Investigates Kinzinger

CFTC is investigating former Rep. Adam Kinzinger over Kalshi trades linked to his pardon.
Kinzinger placed the bets in December 2024 and January 2025 through a Kalshi account tied to him.
He earned $823 from about 25 contracts while most other trades lost money.
Kalshi is reviewing Kinzinger’s transactions after previously suspending three Democratic candidates for similar betting.
The CFTC’s broader legal fight includes suing states over who should regulate prediction markets.

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