A federal watchdog has opened an inquiry into former congressman Adam Kinzinger. The Commodity Futures Trading Commission is reviewing bets he placed on the prediction market Kalshi.
The wagers reportedly involved whether Kinzinger would receive a pardon. They were made in the weeks before he was pardoned in January 2025.
The CFTC oversees derivatives and event-based contracts tied to real-world outcomes. Kalshi operates as a regulated exchange offering such contracts.
The case raises questions about trading on events a person may influence. Federal rules generally bar trading on material nonpublic information.
Kinzinger served as a Republican representative from Illinois. He became a prominent critic of former President Donald Trump.
The inquiry remains in its early stages. No charges have been filed, and the outcome is unclear.
Kalshi has said it complies with federal regulations. The company did not comment on the specifics of the review.
Representatives for Kinzinger have not issued a public response. The CFTC declined to confirm or deny the investigation.
The matter highlights growing scrutiny of prediction markets. Lawmakers and regulators continue to debate how these platforms should be governed.
