Don Davis bill would fine candidates $10,000 for trading on their own races
Image: UnchainedRep. Don Davis, a North Carolina Democrat, introduced the No Betting on Your Own Race Act. The bill would bar federal candidates and their immediate family members from trading on prediction markets tied to their own elections. Each violation would carry a civil penalty of the greater of $10,000 or three times the net financial gain. Kalshi already bans candidates from such trading.
Key points
- The bill would fine federal candidates $10,000 or three times net gain per violation.
- Covered markets include a candidate's primary, nomination contest or general election.
- Davis's Republican opponent settled with Kalshi and received a three-year platform suspension.
- Kalshi already bans candidates from trading on their own races as a platform policy.
Why it matters
Bans on candidates trading their own races are currently platform policies, not law. The bill would extend a federal prohibition to all candidates, including those who do not yet hold office.
What's unclear
It is unclear whether the prohibition covers only trading or also holding positions in such markets.
Whether the bill can advance before the November 2026 elections is not stated and it does not appear to have bipartisan momentum.
Sources · 2 publishers
Unchained
Tier 1
Rep. Don Davis Bill Would Fine Candidates at Least $10,000 for Trading on Their Own Races
Coverage timeline
- First reported by Crypto Briefing
- Confirmed by Unchained
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
