CFTC probes Kinzinger’s $823 profit on his own pardon
The CFTC is examining Adam Kinzinger’s Kalshi trades on his own Biden pardon.
The hit
The CFTC is investigating former congressman Adam Kinzinger over Kalshi trades tied to whether he’d receive a pardon from Joe Biden. Roughly 25 trades were placed between December 2024 & January 2025, most of them losses, weeks before Biden’s preemptive pardons wave, which included Kinzinger himself. Kinzinger says he made $823 profit overall, had no insider knowledge & had reviewed Kalshi’s rules first.
Why it matters
Kalshi bars trading on contracts where a participant can influence the outcome. Kinzinger, a former January 6 committee member, could arguably lobby over his own pardon, so the CFTC appears to be wrestling with where informed participation tips into disqualifying influence. The CFTC has separately said insider-trading rules apply to event contracts.
The record
| Contact from CFTC or Kalshi | None, Kinzinger says |
|---|
What happens next
The probe remains at an early stage. Neither the CFTC nor Kalshi has commented publicly, & whether the case leads to formal enforcement will signal how strictly regulators police self-interested trades on event contracts.
Sources: CFTC investigates Adam Kinzinger over Kalshi trades tied to his own pardon
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