Warren & Curtis grill Kalshi, Polymarket on election bets

Ex-candidate Mark Moran says Kalshi let him bet on his own race before banning him.

The hit

Senators Elizabeth Warren & John Curtis have written to Kalshi & Polymarket demanding answers on how they stop manipulation of election-related contracts, according to CDC Gaming. The letter cites candidates betting on their own races on Kalshi in 2025 & 2026 & alleged manipulation on Polymarket during the 2024 presidential election. Separately, former Virginia Democratic Senate hopeful Mark Moran says Kalshi let him wager $100 on his own campaign before banning him, he told the Indian Gaming Association’s New Normal podcast.

Why it matters

With midterms on Tuesday, lawmakers are questioning whether prediction markets can police political bets. The senators say they are sceptical either exchange can provide effective scrutiny.

The record

Letter sent by	Sens. Elizabeth Warren (D-Mass) & John Curtis (R-Utah)
CFTC-flagged incident	2025 candidate traded on own candidacy, exposed via social media before Kalshi penalty
Mark Moran penalty	5-year Kalshi ban & $6,229.30 fine after declining public statement, per Moran
Initial Moran offer	1-year suspension & $800 fine, per Moran
Moran rule breach	Rule 5.17(z), trades placed 27 January 2026 (Kalshi enforcement record)
Kalshi’s side	Moran admitted on a call the trades were improper, then refused to settle & stopped responding, per Kalshi’s enforcement record

What happens next

Kalshi & Polymarket owe the senators a written response by Tuesday covering past prevention steps, CFTC referrals & active safeguards against election-related insider trading.

Sources: U.S. Senators John Curtis, Elizabeth Warren probe election event contracts

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