Kalshi permanently bans George Santos for insider trading on State of the Union attendance
Prediction market platform Kalshi permanently banned former Rep. George Santos on August 31, 2026, for insider trading related to bets on his own attendance at President Trump's State of the Union address. Kalshi fined Santos $71,356, citing his lack of cooperation with its investigation. The CFTC previously settled with Santos in July for $35,000, including disgorgement of approximately $17,800 in profits and a $17,500 civil penalty. Kalshi also suspended three political candidates for betting on their own races.
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Broad agreement on what happened
Outlets across the spectrum land in roughly the same place: the shared language is highlighted.
“George Santos Banned From Kalshi For Life After Platform Concluded He Was Likely Insider Trading”HP HuffPost LEFT
“Kalshi bans ex-Congressman George Santos for life after concluding he likely was insider trading” · BBC, Jerusalem Post, Globe and Mail, AP News, PBS NewsHour, The Hill, Politico, Reuters