CFTC Investigates Adam Kinzinger Over Kalshi Pardon Bets
Federal regulators are examining whether the former congressman traded improperly on prediction markets before receiving a pardon in January 2025.
The Commodity Futures Trading Commission has opened an inquiry into former Republican congressman Adam Kinzinger over bets he placed on the prediction-market platform Kalshi in the weeks leading up to his presidential pardon in January 2025, according to a report by The New York Times.
The investigation centers on whether Kinzinger possessed non-public information about the likelihood of his pardon when he made the wagers. Prediction markets like Kalshi allow users to bet on the outcomes of real-world events, including political decisions, and have faced growing scrutiny from federal regulators over potential insider-trading concerns.
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Kinzinger, who represented Illinois in the House and gained national attention for his role on the January 6 committee, received a pardon from President Trump earlier this year. The timing of his Kalshi trades — placed in the period immediately preceding that pardon — is the crux of the CFTC's interest, the Times reported.
The CFTC is the primary federal overseer of commodity and derivatives markets, and its jurisdiction has expanded in recent years to cover certain prediction-market platforms operating in the United States. The agency has not publicly disclosed the scope or status of the investigation. Kinzinger has not been charged with any wrongdoing.
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