State Sen. Matt Klein fined over prediction market bet



A man poses for a photograph.

A Minnesota lawmaker who is a Democratic candidate for Congress has apologized for wagering through an online prediction market that he'd win his party primary.

State Sen. Matt Klein issued a statement Wednesday about using $50 of his own money last October to wager on the primary for the 2nd Congressional District seat. The seat is open as the incumbent, Rep. Angie Craig, runs for U.S. Senate.

“That was the only wager I have ever made on a predictions market,” Klein said. “This was a mistake, and I apologize.”

Klein said he learned in March he violated the online platform's rules. He said in a follow-up message that he paid a roughly $540 penalty. He is suspended from the prediction market platform, Kalshi, for five years.

Klein is one of three politicians nationally to be sanctioned for using that prediction market in a race they’re involved with, according to the company. The other candidates are in Texas and Virginia.

Klein told MPR News he will continue his congressional campaign.

State Rep. Kaela Berg and former state Sen. Matt Little are also seeking the DFL nomination.

Little made light of his rival’s admission, with a social media post that read: “I thought this might be a good time to say that I do not have a Kalshi account.”

State lawmakers are considering restrictions to prediction markets over concerns about insider trading and topics that push the bounds of decency. The bill is so far has been through three Senate committees, including one Klein chairs. He is a cosponsor.

“My experience, like many other Minnesotans, points to the need for clearer rules and regulations for these types of markets,” Klein said in his written statement.



Source link

Leave a Reply

Subscribe to Our Newsletter

Get our latest articles delivered straight to your inbox. No spam, we promise.

Recent Reviews



A Republican lawmaker charged in an alcohol-related driving offense won’t have to appear in court again until after the Legislature adjourns for the year.

A June 10 arraignment hearing is set for Rep. Elliott Engen, a Lino Lakes Republican who faces three misdemeanor charges following an arrest early Friday. He was stopped for speeding and other infractions in White Bear Lake; officers detected alcohol and he later tested well above the legal limit for driving, according to a citation.

Engen has apologized for a lapse in judgment; he promised to learn from his actions and “do better.” Aside from being a second-term legislator, he is also a candidate for state auditor.

A second lawmaker, GOP Rep. Walter Hudson, was in Engen’s truck at the time of the stop and an open bottle of alcohol was found in a rear seat. Hudson, a second-term legislator from Albertville, was in possession of a permitted handgun, which could cause him legal problems if he is determined to have been intoxicated.

Police officers wrote in their report that Hudson disclosed he had the gun as the truck was being searched. The report said police took the firearm for safekeeping and said he could pick it up at a later time, which Hudson agreed to.

“I regret the poor decisions that were made during this incident, and commend the White Bear Police Department for their professional response,” Hudson said in a written statement. “I’m grateful that no harm was done to ourselves and others.”

Two lawmakers stand and look around
Rep. Walter Hudson, R-Albertville, (center) and Rep. Bidal Duran, R-Bemidji, (right) join other Republican lawmakers gather in the House chambers Jan. 27, 2025.
Tim Evans for MPR News file

A third, unidentified passenger was in the truck as well, according to police. Hudson and that person were transferred to the police department until they could arrange rides.

The Minnesota lawmakers had been at the Capitol late into the evening Thursday as the House debated procedural motions on gun, immigration and social media legislation. The motions failed on 67-67 votes.

There is no indication yet that either Hudson nor Engen had been drinking on Capitol grounds, which would be a violation of a House rule against consumption of alcohol or drugs in spaces under that chamber’s control.

According to a White Bear Lake Police report, Engen initially said he had not been drinking when asked by the police officer who pulled him over — “nothing at all,” he is quoted as saying. He performed a field sobriety test, which the report says showed signs of impairment.

Engen gave a preliminary breath sample there, the report says, which estimated a 0.142 blood alcohol level. After he was taken by squad car to the police department “Engen spontaneously stated, ‘Sir, I had a drink three hours ago,’” the report says.

He told the Minnesota Star Tribune in an interview Monday that he had also consumed alcohol in the afternoon on Thursday as well.

Engen is charged with two impaired driving offenses and speeding. White Bear Lake police also said he was driving a vehicle with expired registration and an inoperable headlight.

Engen has not returned calls from MPR News. A court docket lists a “notice of appearance” on Tuesday.

He is being represented in the criminal case by Chris Madel, an Excelsior attorney who waged a brief Republican campaign for governor.



Source link