Don Davis Bill Would Fine Candidates $10K for Trading on Their Own Elections
Representative Don Davis introduced the No Betting on Your Own Race Act, which would make it a civil offense for federal candidates, spouses, dependent children and campaign committees to trade contracts tied to the candidate’s election or other political outcomes. Violations could draw a $10,000 fine or three times the net gain, whichever is greater. The bill would let platforms block or unwind trades and report suspected violations without liability, and require the FEC to publish a regularly updated, machine-readable candidate list. It also allows a platform’s minimum divestment window when a contract becomes covered after someone declares candidacy. Prediction-market exchanges have so far relied largely on self-policing; Kalshi has fined or suspended candidates, while the CFTC is investigating other political-event trades.
