Cabinet minister Mel Stride said he did not know how many Tories would end up being dragged into the Gambling Commission investigation into the possible misuse of inside information on the election date.
The BBC reported that 15 Conservative candidates or officials were being looked at by the watchdog.
Mr Stride told LBC Radio: “I don't know what the number is, what the number may or may not end up as, or indeed which parties may be involved, because we have obviously just heard that a Labor candidate has apparently bet against himself in the constituency in which he is standing and has been suspended as a consequence.
“So I don't know where all of this will lead, it could be that there will be others across different political parties going forward.
“But what I do know is that in the case of those Conservative candidates, who are being investigated by the Gambling Commission, they have been suspended. They are not supported as Conservative candidates in this election.
“Indeed, the Prime Minister has been very clear that in the event that they are found to have broken the rules by the Gambling Commission, they will be expelled from the Conservative Party.”