CFTC Investigating Adam Kinzinger Over Kalshi Bets on His Own Pardon: Report
The CFTC is investigating former Rep. Adam Kinzinger over small prediction-market trades on Kalshi tied to whether he would receive a presidential pardon from Joe Biden. Kinzinger said he placed the bets in December 2024 and January 2025, made about $823, and also traded on whether Biden would issue preemptive pardons before leaving office. Biden later pardoned Kinzinger and other Jan. 6 committee members in his final hours. Kinzinger denies wrongdoing, saying he was out of office, had no inside information, and followed Kalshi’s rules. Kalshi and the CFTC declined comment. Kalshi has previously suspended or banned users over bets tied to their own conduct, and Kinzinger himself has criticized such markets as a corruption risk. The probe comes as the CFTC increases scrutiny of contracts tied to named individuals.
