"Kalshi is rolling out a fresh set of guardrails for its sports and political betting markets, introducing measures to preemptively block politicians, athletes, and other relevant people from trading in certain markets."
"The platform will now extend its ban on betting to political candidates trying to trade on their own campaigns, ensuring that elected officials are not able to participate in these markets."
"Kalshi announced a new whistleblower function that allows users to flag potential violations, acknowledging that no screening system is perfect and that motivated bad actors consistently try to find a way around regulations."
"The announcement coincided with the introduction of a bipartisan bill in the Senate aimed at prohibiting CFTC regulated companies from listing predictions that resemble sports bets or casino-style games."
Kalshi is implementing new guardrails to enhance compliance with insider trading regulations in its betting markets. The platform will block politicians, athletes, and relevant individuals from trading in specific markets. Elected officials and political candidates will be prohibited from betting on their own campaigns. Additionally, individuals involved in college and professional sports will be barred from trading in associated markets. A new whistleblower function will allow users to report potential violations, addressing concerns about motivated bad actors. This announcement coincides with a bipartisan bill aimed at regulating prediction markets.
Read at www.businessinsider.com
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