Kalshi editor banned for betting on MrBeast's YouTube videos
Kalshi, a prediction market platform, has suspended an editor for YouTuber MrBeast after catching them trading around $4,000 on markets related to the YouTuber's videos.
The editor had an almost perfect streak on bets with low odds—Kalshi said investigators determined the trader "likely had access to material non-public information connected to his trading."
Kalshi's 1st big public move against insider trading
This is Kalshi's first big public move against insider trading. The platform froze the editor's account, hit them with a $20,000 fine, suspended them for two years, and reported the case to regulators.
Head of enforcement Robert DeNault commented on the probe—one of about 200 investigations Kalshi opened in the past year.
In another case, Kalshi fined California candidate Kyle Langford $1,000 and banned him for five years for betting on his own outcome.
Fines from these cases help fund financial education.
MrBeast hasn't commented yet.