The prediction market issued fines and five-year bans for political candidates in Minnesota, Virginia and Texas.

The incidents involved a candidate from Virginia seeking a Senate seat and two men running for House seats from Minnesota and Texas.

Penalties come amid calls for greater oversight; company pledges to proactively police 'insider trading' on platforms.

The prediction market has banned Mark Moran, Ezekiel Enriquez, and Matt Klein from using the platform for at least five years.

The prediction market issued fines and five-year bans for political candidates in Minnesota, Virginia and Texas.