Before he announced his Senate candidacy, a political hopeful in Virginia did something not so unusual in this day and age: he logged on to a prediction market exchange and wagered money that he would run. Then he ran.
Then he bet on that too. The candidate and trader was Mark Moran, a former FBoy Island contestant who went viral recently for his campaign launch video.
Investigators with Kalshi, the federally regulated prediction market exchange, found he placed two trades on their platform, the first in a market asking which individuals would seek public office in 2026, the second after he formally entered the race. The case is one of three enforcement involving political candidates who traded on their own electoral prospects that Kalshi disclosed on Wednesday.
The announcements come after the prediction market platform instituted new guardrails against insider trading that included a ban on political candidates trading on their own campaigns. Matt Klein, a doctor, Minnesota state senator and candidate for the state’s democratic primary in the second congressional district, traded a small amount on the outcome of his own race.
After Kalshi identified him, investigators say he cooperated and acknowledged the violation and agreed to pay a fine of $539.85 alongside a five-year suspension. Klein’s campaign appears to be active, with the primary set for August.