Beast Industries has fired a video editor for YouTuber MrBeast following insider trading accusations raised by the prediction market platform Kalshi.
Kalshi said last month that a user who traded about $4,000 on markets tied to MrBeast’s streaming content achieved “near-perfect” results. The company later determined the trader was an employee of Beast Industries who likely had access to confidential, non-public information about upcoming videos.
The platform suspended the editor for two years, imposed a $20,000 fine and reported the case to federal regulators.
A spokesperson for Beast Industries, the company founded by Jimmy Donaldson, said the roughly 500-employee organization has “no tolerance” for such conduct and has launched an independent investigation. Company president and CEO Jeff Housenbold also said steps had already been taken to prohibit employees and contestants from trading on prediction markets tied to MrBeast content.
The incident has intensified debate about prediction markets, where users can place wagers on the outcomes of real-world events. Critics argue that access to inside information could make the platforms vulnerable to manipulation and abuse.
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