A former GOP Congressman has been banned for life from a prediction market platform. The individual, who is openly gay, was accused of profiting from bets on his own actions. A penalty of $71,356 was also issued.

The company took this disciplinary action after a federal regulator made accusations. This regulator also imposed a separate trading ban for three years. Further details about the incident and resulting penalties are available from the source, including the company's disciplinary action notice and the regulator's findings.