George Santos Just Got Hit With Kalshi’s First-Ever Lifetime Ban
The former US representative was also fined more than $71,000 for allegedly attempting to manipulate the prediction market.
Former Republican congressman George Santos has received a lifetime ban from prediction market platform Kalshi, along with a fine of $71,356 for violating rules surrounding insider trading and market manipulation. Santos placed trades in markets concerning his attendance at President Trump’s State of the Union address in February 2026 and subsequently made false statements to influence the prices of certain contracts.
Kalshi's enforcement team flagged his trades, froze his account, and referred the case to the Commodity Futures Trading Commission. Santos had previously settled with the CFTC for $35,000 over similar suspicious trades. He declined to comment on the matter, but sarcastically thanked Kalshi for the lifetime ban and questioned its longevity.
Santos has a history of legal troubles, including expulsion from Congress, embezzlement, lying to Congress, and defrauding campaign contributors. Kalshi has also fined other politicians, such as Laurie Buckhout, Stephen Kloobeck, and Ben Midgley, for attempting to trade on contracts related to their races.
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