As a regulated exchange, we ban insider trading. In the past year, we’ve opened 200 investigations and frozen a number of flagged accounts. Of those investigations, over a dozen have become active cases. We’ve received questions from customers about how we identify violations and enforce our rules. So, we’re releasing information about two insider trading cases we’ve recently closed. … The first concerns a candidate who traded about $200 on his own candidacy for Governor of California, and then posted about it on social media, a violation of several Kalshi rules. Punishment: 5-year ban + financial penalty (10 times the initial trade size). ... In May, our Surveillance Department saw an online video by a candidate for Governor of California that appeared to show him trading on his own candidacy. We immediately froze his account and opened an investigation.

https://www.bloomberg.com/opinion/newsletters/2026-02-25/kalshi-found-some-insider-traders