Prediction market Kalshi issued its first-ever lifetime ban to former congressman George Santos after finding he bet on markets tied to his own attendance at Trump's State of the Union address while publicly making misleading statements to move contract prices. Kalshi's compliance team found Santos profited nearly $18,000 from the scheme and fined him $71,356, while the CFTC separately ordered him to return his profits and paid its own $17,500 penalty.
futurism.com
· 2026-09-02
Prediction market platform Kalshi has permanently barred former Congressman George Santos from its service, marking the company's first-ever lifetime ban. The action stems from allegations that Santos manipulated betting markets tied to whether he would attend President Trump's State of the Union address earlier this year.
gizmodo.com
· 2026-08-31
Prediction market Kalshi has permanently banned former Rep. George Santos after finding reasonable cause he bet on whether he would attend Trump's State of the Union address, allegedly netting him nearly $18,000. Kalshi also fined him over $71,000 and separately suspended or penalized several other political candidates, including Ben Midgely, Laurie Buckhout and Stephen Cloobeck, for allegedly wagering on their own races.
techcrunch.com
· 2026-08-31
Prediction market Kalshi has permanently banned former congressman George Santos and fined him $71,356, marking the platform's first-ever lifetime ban. Santos had allegedly profited over $17,500 by betting he'd skip the State of the Union due to travel issues, then selling those contracts after claiming publicly he would attend. Kalshi says it flagged the scheme to regulators and imposed the harsher penalty because Santos failed to cooperate fully with its internal investigation.
engadget.com
· 2026-08-31
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