BusinessOctober 3, 2026

What Happened When a Former Lawmaker Bet on His Own Pardon

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② Start Lesson

Key Vocabulary

pardon/ˈpɑːr.dən/

an official decision that stops punishment for a crime

"The president gave the pardon to the person."

market/ˈmɑːr.kɪt/

a place or system where people buy and sell things

"People use the market to trade contracts."

profit/ˈprɒf.ɪt/

money gained after you pay costs

"He made a small profit from the trades."

Listening

What Happened When a Former Lawmaker Bet on His Own Pardon

The CFTC is investigating Adam Kinzinger for trades he placed on Kalshi in December 2024 and January 2025. The bets included one that asked whether he would receive a presidential pardon. Kalshi is an online prediction market where people buy and sell simple yes or no contracts. The investigation looks at whether the trades broke rules for fair trading.

Kinzinger says he had no inside information and that he read Kalshi’s rules before he bet. He made a small profit from the trades. The CFTC and Kalshi have not commented publicly. President Joe Biden pardoned Kinzinger in January 2025.

99 words

Quiz

1. Who is being investigated?

2. What platform did he use?

3. When did he place the trades?

Reading Practice

Read the article from the Listening section aloud. Your AI teacher will give you pronunciation feedback.

Discussion

Do you ever use apps or websites to guess outcomes? What do you enjoy about them?

Have you ever made a small bet or prediction with friends? What happened?

What do you think when you hear the word "pardon"? Is it fair or unfair?