Don Davis proposes banning candidates from trading their own election related contracts

US Congressman Don Davis has proposed a bill to prohibit federal candidates from trading contracts related to their own elections in the prediction market. Violators will be fined $10000 or three times the net profit from trading. The proposal originated from Republican candidate Laurie Buckhart being fined $2600 and suspended from using the platform for three years by Kalshi for trading his own election contract. At present, the prediction market platform has imposed its own restrictions on candidate trading, and this proposal aims to incorporate it into the law. (Source: CNBC)