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George Santos Just Got Hit With Kalshi’s First-Ever Lifetime Ban
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Former Republican congressman George Santos has received a first-of-its-kind lifetime ban from the prediction market platform Kalshi, which has also fined him $71,356 for violating its rules around insider trading and market manipulation.
Key facts
- This summer, he settled with the CFTC for $35,000 over these suspicious trades; a little over $17,500 was returning the profit he made, with an additional $17,500 fine
- Former Republican congressman George Santos has received a first-of-its-kind lifetime ban from the prediction market platform Kalshi, which has also fined him $71,356 for violating its rules — He was released from prison in 2025 after President Trump commuted his sentence
- According to the notice of disciplinary action Kalshi posted today, the former politician placed trades in markets related to whether he would attend President Trump’s State of the Union address
Summary
According to the notice of disciplinary action Kalshi posted today, the former politician placed trades in markets related to whether he would attend President Trump’s State of the Union address in February 2026. The day before the address, Santos posted, “I'm going to be there for the State of Union in the gallery, guys” on X. Kalshi’s enforcement team flagged the trades, froze Santos’ account, and referred the case to the Commodity Futures Trading Commission, the federal agency that oversees prediction markets. Through his legal representative, Santos declined to comment to WIRED.