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CFTC investigates Adam Kinzinger over Kalshi trades tied to his pardon
Kinzinger says the trades produced $823 in gains and that he placed about 25 bets after reviewing Kalshi's rules, according to Decrypt.
The US Commodity Futures Trading Commission is investigating former Republican Representative Adam Kinzinger of Illinois over prediction market trades conducted on Kalshi that were tied to the presidential pardon he later received, Politico reported, citing three people familiar with the matter.
According to Decrypt, the trades were made through a Kalshi account linked to Kinzinger in December 2024 and January 2025, and he said he placed bets on whether he would personally receive a pardon and on whether President Joe Biden would issue preemptive pardons before leaving office.
Decrypt reports Kinzinger said Biden issued preemptive pardons in his final hours in January 2025, including pardoning Kinzinger and other members of the House select committee that investigated the January 6 attack.
The outlet also said Kinzinger provided screenshots showing he made $823 on the trades, placed around 25 bets with most ending in losses, and denies wrongdoing.