AP Wire
  • Updated

A MrBeast video editor has been fired after accusations of insider trading by Kalshi. The prediction market operator says the immensely popular YouTube channel's employee traded about $4,000 on YouTube streaming markets with “near-perfect” success. The user has been suspended from Kalshi for two years and fined $20,000. A spokesperson for Beast Industries has confirmed the editor's firing and says the company has “no tolerance for this behavior." The incident places Beast Industries, founded by Jimmy Donaldson, in the middle of a debate over whether prediction markets are a form of gambling. Kalshi allows participants to wager on the probable outcome of events ranging from sports to geopolitics.