Kalshi bans ex-congressman George Santos for life after suspicious trades
George Santos faces a lifetime ban from Kalshi after failing to cooperate with the prediction market's investigation into his alleged unlawful trades.
Kalshi, a prediction market platform, has indefinitely barred former U.S. Congressman George Santos from its services. Santos, who represented New York's 3rd District in Congress until his expulsion in 2023, allegedly engaged in unlawful trades related to his attendance at the 2026 State of the Union address. The company's investigation into these trades revealed that Santos profited nearly $18,000.
In response, Kalshi banned Santos for life and fined him $71,356. Santos, who pleaded guilty to fraud and campaign finance violations, settled a federal probe in July by paying $35,000. Additionally, the Commodity Futures Trading Commission placed a three-year trading ban on Santos. This situation is still unfolding and will be further updated as more information becomes available.
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Also reported by 9 other outlets
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- Kalshi permanently bans ex-Congressman George Santos for life after concluding he likely was insider trading pbs.org
- Kalshi announces lifetime ban against former Rep. George Santos abcnews.com
- Prediction platform Kalshi bans ex-US Congress member for manipulation ft.com
- Kalshi lays down first lifetime ban for ex-member of Congress George Santos coindesk.com
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