Prediction platform Kalshi bans ex-US Congress member for manipulation
Regulator says George Santos made public statements to boost the value of his own bets on whether he would attend the State of the Union address
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.
Written by urgent.news from CBS News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Kalshi bans ex-congressman George Santos for life after suspicious trades cbsnews.com
- Kalshi bans Santos for life over bets on State of the Union attendance thehill.com
- Kalshi permanently bans ex-Congressman George Santos for life after concluding he likely was insider trading pbs.org
- Kalshi lays down first lifetime ban for ex-member of Congress George Santos coindesk.com
- Kalshi bans ex-Congressman George Santos for life after concluding he likely was insider trading winnipegfreepress.com
