Prediction market platform Kalshi announced Wednesday it has suspended three political candidates and levied fines after determining they violated the company's insider trading rules by betting on their own election races.

The enforcement actions targeted Minnesota congressional candidate and state Senator Matt Klein, former Texas congressional candidate Ezekiel Enriquez, and Virginia Senate candidate Mark Moran. Klein and Enriquez both settled with the platform and paid small fines, while Moran declined to settle.

According to Kalshi's investigation, Moran placed two separate trades on the platform - first betting on which individuals would seek public office in 2026 before announcing his candidacy, then placing additional bets after formally entering the Virginia Senate race. Moran, a former reality TV contestant who gained attention for his viral campaign launch video, has stated he intentionally violated the platform's rules.

The suspensions come after Kalshi tightened its rules regarding insider trading, specifically prohibiting candidates from wagering on their own campaigns. The federally regulated prediction market exchange has been working to establish clearer boundaries around what constitutes improper trading activity in political markets.

Kalshi operates as a CFTC-regulated platform that allows users to trade on the outcomes of various events, including political elections. The platform has grown in popularity as prediction markets have gained mainstream attention, particularly around political betting.