Kalshi suspends GOP House candidate in North Carolina for betting on own race

Prediction market Kalshi has suspended GOP House candidate Laurie Buckhout from its platform for three years, after it determined she wagered on her own race.

After launching her candidacy in North Carolina’s 1st Congressional District last December, Buckhout purchased less than $1,000 worth of contracts related to her race against Rep. Don Davis (D-N.C.), according to a settlement notice Kalshi published Monday.

By doing so, Buckhout violated Rule 5.17(z) of the prediction market’s guidelines , which states that a trader cannot place any trades, either directly or indirectly, regarding an event they are a “decision maker” for or have “any influence” over.

“As a candidate, Buckhout qualified as a direct decision maker for the contract and therefore had direct influence on the outcome of the Underlying event,” the notice states.

Under the settlement, which took effect Friday, Buckhout cannot wager on the prediction market platform for three years and must pay a $2,589.96 penalty.

Buckhout cooperated with Kalshi’s inquiry into the matter, per the notice. In a statement to The Hill, the Republican candidate acknowledged she bet on her own race.

“I bet on myself. Literally. It was a dumb mistake, and as soon as I learned there was an issue, I worked to make it right. Safe to say my career as a Kalshi trader was short-lived,” she said.

A spokesperson for Kalshi declined further comment on the settlement.

Buckhout won the GOP primary in March, setting up a rematch with Davis — who defeated her in 2024 by less than 2 percentage points.

Republicans in the North Carolina General Assembly redrew the 1st Congressional District last fall, with the nonpartisan Cook Political Report rating the race as leaning Republican .

A retired Army colonel with 26 years of service, the GOP hopeful served as acting assistant secretary of defense for cyber policy for less than six months last year. After retiring from the military in 2010, she founded a consulting group focusing on electronic warfare and cyberspace operations.

Buckhout is not the only political candidate Kalshi has suspended for betting on their own race, as prediction market activity has exploded in recent years.

Earlier this year, the company suspended Minnesota state Sen. Matt Klein (D), former Texas congressional candidate Ezekiel Enriquez and Virginia Senate candidate Mark Moran (I) for five years after all three admitted to wagering on their own contests.

As part of settlements , Klein and Enriquez paid fines of $539.85 and $784.20, respectively. But Moran, who will not appear on the general election ballot, declined to settle and received a $6,229.30 fine from Kalshi.

Also on Monday, Kalshi banned former Rep. George Santos (R-N.Y.) from the platform for life , after he failed to cooperate in a probe over wagers he placed on his attendance at this year’s State of the Union address. The prediction market also fined Santos $71,356.