11
disciplinary actions and settlements Kalshi has posted in 2026, from 7 cases of candidates trading on their own races to insider-information and account-misuse cases. Each is linked to Kalshi’s notice.
Kalshi regulatory notices, pulled Nov 12, 2026, 8:03 AM ET. Updated weekly.
By Arthur Angelo, PredictionScout Research · Updated Nov 12, 2026, 8:03 AM ET
Key findings
- 7 of 11 actions cite Rule 5.17(z): a person trading on an outcome they could influence, mostly political candidates on their own races.
- Penalties and disgorgement payable to Kalshi total $163,162.20 across 10 actions; the largest single penalty is $71,356.00.
- Suspensions range from one year to permanent. One action (KDA-2026-0011) was resolved alongside a CFTC settlement, with amounts payable to the CFTC.
- Notices were posted on 3 dates: Feb 25, 2026 (2), Apr 21, 2026 (3), Aug 28, 2026 (6).
Every action
Amounts are as stated in each notice. “Penalty” is the fine; “disgorgement” is the return of trading profit. Dates are the effective dates in each notice; three April notices print the year as 2025 but were posted in April 2026 and carry 2026 file numbers.
| File | Member | Effective | Rule(s) | Conduct (per notice) | Suspension | Penalty | Disgorgement |
|---|---|---|---|---|---|---|---|
| KDA-2026-0001 | Artem Kaptur | Feb 25, 2026 | 5.17(y); 3.6(a) | Traded MrBeast YouTube markets while affiliated with the source agency; failed to cooperate | 2 years | $15,000.00 | $5,397.58 |
| KDA-2026-0002 | Kyle Langford | Feb 25, 2026 | 5.17(z) | Candidate traded the 2026 California governor market on himself | 5 years | $2,000.00 | $246.36 |
| KDA-2026-0003 | Mark Moran | Apr 21, 2026 | 5.17(z) | Candidate traded markets on his own candidacy (Virginia Senate) | 5 years | $6,229.30 | – |
| KDA-2026-0004 | Ezekiel Enriquez | Apr 21, 2026 | 5.17(z) | Candidate bought under $100 of contracts on his own race (TX-21 primary) | 5 years | $784.20 | – |
| KDA-2026-0005 | Matt Klein | Apr 21, 2026 | 5.17(z) | Candidate bought under $100 of contracts on his own race (MN-2 primary) | 5 years | $539.85 | – |
| KDA-2026-0006 | George Santos | Aug 28, 2026 | 5.17(n) (z) (y) (cc); 3.6(a) | Traded State of the Union attendance markets on his own attendance and made public statements the notice says were meant to affect those markets (profit $17839.57) | Permanent | $71,356.00 | – |
| KDA-2026-0007 | Ben Midgley | Aug 28, 2026 | 5.17(z) | Candidate bought under $1000 of contracts on his own race (Maine governor) | 3 years | $5,434.30 | – |
| KDA-2026-0008 | Stephen Cloobeck | Aug 28, 2026 | 5.17(z) | Candidate bought about $10000 of contracts on his own race (California governor) | 3 years | $31,770.00 | – |
| KDA-2026-0009 | Laurie Buckhout | Aug 28, 2026 | 5.17(z) | Candidate bought under $1000 of contracts on her own race (North Carolina House) | 3 years | $2,589.96 | – |
| KDA-2026-0010 | Eric Park | Aug 28, 2026 | 5.17(c)(d); 5.17(g)(1) | Accessed another user's account and traded for an illegitimate purpose | 1 year (completed) | $7,342.00 | $14,472.65 |
| KDA-2026-0011 | Gabriel Perez | Aug 28, 2026 | 5.17(y) | Federal employee who operated a teleprompter traded mention markets on the remarks; amounts are payable to the CFTC under a related CFTC settlement ($91998.91 from his Kalshi account) | 3 years | $65,000.00 | $107,539.02 |
The rules being enforced
Kalshi is a CFTC-registered exchange (a designated contract market) and must enforce its own rulebook. Chapter 5 lists prohibited trading practices; Chapter 3 requires members to cooperate with investigations. Short descriptions of the rules cited:
- Rule 5.17(z). Trading on an outcome you can influence (for example, a candidate trading on their own race). Cited in 7 action(s).
- Rule 5.17(y). Trading on material non-public information or in breach of a duty to the source. Cited in 2 action(s).
- Rule 5.17(n). Manipulation or attempted manipulation of a market. Cited in 1 action(s).
- Rule 5.17(cc). Spreading false or misleading information that could affect a market. Cited in 1 action(s).
- Rule 5.17(c)(d). Using another person's account without authorization. Cited in 1 action(s).
- Rule 5.17(g)(1). Trading for an improper or non-bona-fide purpose. Cited in 1 action(s).
- Rule 3.6(a). Failure to cooperate with a Kalshi investigation. Cited in 2 action(s).
How a case is decided
Kalshi’s Compliance Department investigates, usually from trade surveillance or a tip. A case can end in a settlement approved by the Disciplinary Panel, or in a contested decision by the Disciplinary Committee or a Compliance Department penalty. The outcome is published as a Notice of Disciplinary Action or Notice of Settlement, which names the member, the rule, the facts found and the sanction. A suspended member cannot trade on Kalshi for the stated period. Where conduct also breaks federal law, the CFTC can bring its own case, as in KDA-2026-0011.
What drives new cases
- Election cycles. Candidate self-trading cases cluster around primaries.
- Mention and attendance markets. Markets on what a speaker says or who attends can be traded by people with advance knowledge.
- Surveillance and referrals. CFTC advisories and exchange monitoring lead to batches of notices posted on the same day.
Worked example
In KDA-2026-0009, a North Carolina congressional candidate bought less than $1,000 of contracts on her own race. Because a candidate can affect the outcome, Rule 5.17(z) bars such trades. The settlement set a three-year suspension and a financial penalty of $2,589.96. In KDA-2026-0006, the notice found trading in State of the Union attendance markets on the member’s own attendance, a profit of $17,839.57, and public statements it said were meant to affect those markets; the result was a permanent suspension and a $71,356 penalty.
Source notices
- KDA-2026-0001: Artem Kaptur
- KDA-2026-0002: Kyle Langford
- KDA-2026-0003: Mark Moran
- KDA-2026-0004: Ezekiel Enriquez
- KDA-2026-0005: Matt Klein
- KDA-2026-0006: George Santos
- KDA-2026-0007: Ben Midgley
- KDA-2026-0008: Stephen Cloobeck
- KDA-2026-0009: Laurie Buckhout
- KDA-2026-0010: Eric Park
- KDA-2026-0011: Gabriel Perez
All notices are in Kalshi’s public regulatory notices folder. For lawsuits and rulemaking, see the lawsuit tracker and the regulation tracker.
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Every action (one row per notice) (CSV)
One row per notice with a link to the PDF. Free to reuse under CC BY 4.0 with a link back to this page.
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Methodology
- Source. Notices of Disciplinary Action and Notices of Settlement in Kalshi’s public regulatory notices folder.
- Fields. File number, member, effective date, rules cited, conduct, suspension, penalty and disgorgement as stated in each notice.
- Updates. Each run re-lists the folder and flags any new disciplinary file for review before it is added.
- Limits. Transcribed from Kalshi’s posted notices; the notice is the authority. Only actions Kalshi has made public are included. Nothing here is investment advice. Last run: Nov 12, 2026, 8:03 AM ET.
Cite this research
Suggested citation: PredictionScout. (2026, November 12). Kalshi Disciplinary Actions Tracker. https://predictionscout.com/research/kalshi-disciplinary-actions-tracker/
For a chart or news story: “Source: PredictionScout analysis of public exchange data (https://predictionscout.com/research/kalshi-disciplinary-actions-tracker/)”
The data and charts on this page are free to reuse under CC BY 4.0 with a link back to this page. Source: Kalshi notices of disciplinary action and settlement.
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Related: Lawsuit tracker · Regulation tracker · All research