Adam Kinzinger under CFTC investigation for Kalshi pardon trades

The Commodity Futures Trading Commission (CFTC) is investigating prediction market trades made by former Congressman Adam Kinzinger on the Kalshi platform. The investigation focuses on contracts placed between December 2024 and January 2025, specifically regarding whether Kinzinger would receive a presidential pardon from Joe Biden.

Kinzinger, a former Republican representative and member of the House January 6 committee, confirmed he placed approximately 25 trades during that period. He stated that while he bet on a contract regarding his own pardon and another regarding general preemptive pardons, most of his trades resulted in losses, yielding a net profit of $823.

Kinzinger denies any wrongdoing, asserting he had no insider information and had reviewed Kalshi’s rules prior to trading. The probe examines whether his position or potential influence over the pardon process violated Kalshi’s policies, which prohibit participants from trading on contracts where they have influence over the outcome.