Republicans · White House · Cointelegraph
Kalshi issues first lifetime ban for Republican politician over insider bets
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The prediction platform permanently banned George Santos and issued a three-year suspension for Laurie Buckhout after investigations into using insider information on event contracts.
Key facts
- Buckhout remains the Republican candidate for North Carolina’s 1st congressional district in the 2026 midterm elections, while Santos, formerly a representative for New York’s 3rd congressional
- As of Tuesday, Kalshi still listed event contracts related to the outcome of Buckhout’s North Carolina race, giving Democratic incumbent Don Davis a 63% chance over the Republican’s 41%
- Prediction market platform Kalshi announced action against US House of Representatives candidate Laurie Buckhout and ousted Republican lawmaker George Santos over using insider information
- In separate notices of settlement of disciplinary action announced on Friday, Kalshi’s compliance department said it had permanently suspended Santos from trading on the prediction markets platform
Summary
Prediction market platform Kalshi announced action against US House of Representatives candidate Laurie Buckhout and ousted Republican lawmaker George Santos over using insider information for trading on event contracts, in one of the first lifetime bans the company has imposed since its launch in 2021. In separate notices of settlement of disciplinary action announced on Friday, Kalshi’s compliance department said it had permanently suspended Santos from trading on the prediction markets platform and imposed a $71,356 penalty. Both restrictions by Kalshi were made in response to investigations into Santos and Buckhout trading using event contracts that could be manipulated by their own actions.